The typical owner-occupied home in Inverness is worth about $1,872,700, 2.5 times the California median of $734,700 and 5.6 times the national median of $332,700. Owners pay a median $8,076 a year in property taxes, about 0.43% of their home's value, lower than the California rate of 0.70%. The median household earns $80,176 a year, so the median home costs 23.4 times the median income (7.4 times for California). 78% of occupied homes here are lived in by their owners, and 41% of those owners still have a mortgage.
Inverness at a glance
| Inverness | California | U.S. | |
|---|---|---|---|
| Median home value | $1,872,700 | $734,700 | $332,700 |
| Median property tax paid per year | $8,076 | $5,124 | $3,119 |
| Property tax as a share of value | 0.43% | 0.70% | 0.94% |
| Median household income | $80,176 | $99,122 | $80,734 |
| Homes lived in by their owners | 78% | 56% | 65% |
| Owner homes with a mortgage | 41% | 67% | 61% |
| Median monthly costs, owners with a mortgage | $4,001 | $2,946 | $1,963 |
| Those costs as a share of the owners' income | 28.8% | 24.8% | 21.0% |
| Median rent | $1,829 | $2,036 | $1,413 |
| Rent as a share of renters' income | 51.0% | 32.8% | 30.6% |
| Median year homes were built | 1962 | 1976 | 1980 |
| Vacant homes | 29.6% | 7.5% | 10.1% |
| Population | 1,346 | 39,287,377 | 334,922,499 |
What a typical home costs per month in Inverness
At this week's average 30-year rate of 7.11%, buying the median Inverness home of $1,872,700 with 20% down costs about $11,530 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $14,950, 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 $494,124 for the 20%-down payment. That payment is 173% of the median Inverness household income of $80,176; at that income and 20% down, the 28% guideline points to a home of about $304,000.
The median rent here is $1,829 a month, so owning the median home costs about $9,701 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $374,540 |
|---|---|
| Loan amount | $1,498,160 |
| Principal and interest | $10,078 |
| Property taxes (0.43% a year) | $671 |
| Homeowners insurance (our estimate, 0.5% a year) | $780 |
| PMI | $0 |
| Total per month | $11,530 |
Change the numbers in the calculator
| Down payment | $65,544 |
|---|---|
| Loan amount | $1,838,781 |
| Principal and interest | $12,370 |
| Property taxes (0.43% a year) | $671 |
| Homeowners insurance (our estimate, 0.5% a year) | $780 |
| FHA mortgage insurance | $1,129 |
| Total per month | $14,950 |
Change the numbers in the calculator
Questions about home buying in Inverness
What is the median home value in Inverness?
About $1,872,700 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Inverness?
Homeowners pay a median $8,076 a year, which is about 0.43% 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 Inverness?
For the median home with 20% down at 7.11%, the payment is about $11,530 a month. Keeping that under 28% of gross income takes about $494,124 a year.
More about Inverness
- Mortgage Refinance in Inverness
- Debt Relief in Inverness
- Home Equity Loans in Inverness
- 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