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Banning

Learn about the people, housing, costs and businesses in Banning, California

Median Home$348,678
Median Rent$1,712/month
Population30,758
Leading IndustriesFinance & Insurance · Education · Information & Media8% finance & insurance
Home Value Growth⬆⬆+12.5% over 2 years
Family-Friendly25% of residentsslightly above average
Homeowners71% of occupied units
Banning
CA

Frequently Asked Questions

What are today's mortgage rates in Banning?

As of today, the 30-year fixed mortgage rate for Banning is approximately 6.896% (6.932% APR). Rates vary based on your credit score, loan type, down payment, and other factors. Safe Rate updates rates daily using live investor pricing.

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What is the median home price in Banning?

The median home value in Banning is $349k. The median monthly rent is $1,712. Annual property taxes average $2k. Home values are based on U.S. Census Bureau American Community Survey estimates.

Are home values rising in Banning?

Home values in Banning have increased 12.5% over the past two years. This indicates a strong appreciation trend. This data is sourced from the Federal Housing Finance Agency (FHFA) House Price Index.

How much income do you need to buy a home in Banning?

Based on a typical all-in ownership cost of $1,431/month (mortgage, taxes, insurance), you'd generally need a household income of approximately $61k/year to keep housing costs at or below 28% of gross income — a common lender guideline. The median household income in Banning is $65k/year.

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What industries drive the economy in Banning?

The largest employment sectors in Banning are public administration (24%) and wholesale trade (9%) of the local workforce. Industry data is sourced from the U.S. Census Bureau American Community Survey.