The typical owner-occupied home in Lomita is worth about $831,500, 13% above the California median of $734,700 and 2.5 times the national median of $332,700. Owners pay a median $6,232 a year in property taxes, about 0.75% of their home's value, higher than the California rate of 0.70%. The median household earns $93,810 a year, so the median home costs 8.9 times the median income (7.4 times for California). 46% of occupied homes here are lived in by their owners, and 71% of those owners still have a mortgage.
Lomita at a glance
| Lomita | California | U.S. | |
|---|---|---|---|
| Median home value | $831,500 | $734,700 | $332,700 |
| Median property tax paid per year | $6,232 | $5,124 | $3,119 |
| Property tax as a share of value | 0.75% | 0.70% | 0.94% |
| Median household income | $93,810 | $99,122 | $80,734 |
| Homes lived in by their owners | 46% | 56% | 65% |
| Owner homes with a mortgage | 71% | 67% | 61% |
| Median monthly costs, owners with a mortgage | $2,955 | $2,946 | $1,963 |
| Those costs as a share of the owners' income | 24.0% | 24.8% | 21.0% |
| Median rent | $1,961 | $2,036 | $1,413 |
| Rent as a share of renters' income | 31.3% | 32.8% | 30.6% |
| Median year homes were built | 1967 | 1976 | 1980 |
| Vacant homes | 7.3% | 7.5% | 10.1% |
| Population | 20,225 | 39,287,377 | 334,922,499 |
What a typical home costs per month in Lomita
At this week's average 30-year rate of 7.11%, buying the median Lomita home of $831,500 with 20% down costs about $5,341 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $6,860, because the loan is bigger and FHA adds mortgage insurance.
Lenders usually want housing costs under about 28% of gross income, which means an income of roughly $228,900 for the 20%-down payment. That payment is 68% of the median Lomita household income of $93,810; at that income and 20% down, the 28% guideline points to a home of about $341,000.
The median rent here is $1,961 a month, so owning the median home costs about $3,380 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $166,300 |
|---|---|
| Loan amount | $665,200 |
| Principal and interest | $4,475 |
| Property taxes (0.75% a year) | $520 |
| Homeowners insurance (our estimate, 0.5% a year) | $346 |
| PMI | $0 |
| Total per month | $5,341 |
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| Down payment | $29,102 |
|---|---|
| Loan amount | $816,439 |
| Principal and interest | $5,492 |
| Property taxes (0.75% a year) | $520 |
| Homeowners insurance (our estimate, 0.5% a year) | $346 |
| FHA mortgage insurance | $502 |
| Total per month | $6,860 |
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Questions about home buying in Lomita
What is the median home value in Lomita?
About $831,500 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Lomita?
Homeowners pay a median $6,232 a year, which is about 0.75% of the median home value. Your bill depends on your home's assessed value and local rates.
What income do you need to buy a home in Lomita?
For the median home with 20% down at 7.11%, the payment is about $5,341 a month. Keeping that under 28% of gross income takes about $228,900 a year.
More about Lomita
- Mortgage Refinance in Lomita
- Debt Relief in Lomita
- Home Equity Loans in Lomita
- Guides and quotes for mortgage refinance on our sister site, MortgageRefinance.com
Sources: U.S. Census Bureau, American Community Survey 2020–2024 5-year estimates; Freddie Mac Primary Mortgage Market Survey, week of November 12, 2026. Estimates for small places have wide margins of error. About our data