The typical owner-occupied home in Bishop is worth about $386,400, 47% below the California median of $734,700 and 16% above the national median of $332,700. Owners pay a median $2,709 a year in property taxes, about 0.70% of their home's value, close to the California rate of 0.70%. The median household earns $83,686 a year, so the median home costs 4.6 times the median income (7.4 times for California). 58% of occupied homes here are lived in by their owners, and 43% of those owners still have a mortgage.
Bishop at a glance
| Bishop | California | U.S. | |
|---|---|---|---|
| Median home value | $386,400 | $734,700 | $332,700 |
| Median property tax paid per year | $2,709 | $5,124 | $3,119 |
| Property tax as a share of value | 0.70% | 0.70% | 0.94% |
| Median household income | $83,686 | $99,122 | $80,734 |
| Homes lived in by their owners | 58% | 56% | 65% |
| Owner homes with a mortgage | 43% | 67% | 61% |
| Median monthly costs, owners with a mortgage | $2,027 | $2,946 | $1,963 |
| Those costs as a share of the owners' income | 21.6% | 24.8% | 21.0% |
| Median rent | $1,580 | $2,036 | $1,413 |
| Rent as a share of renters' income | 22.1% | 32.8% | 30.6% |
| Median year homes were built | 1967 | 1976 | 1980 |
| Vacant homes | 10.0% | 7.5% | 10.1% |
| Population | 3,778 | 39,287,377 | 334,922,499 |
What a typical home costs per month in Bishop
At this week's average 30-year rate of 7.11%, buying the median Bishop home of $386,400 with 20% down costs about $2,466 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $3,110, 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 $105,680 for the 20%-down payment. That payment is 35% of the median Bishop household income of $83,686; at that income and 20% down, the 28% guideline points to a home of about $306,000.
The median rent here is $1,580 a month, so owning the median home costs about $886 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $77,280 |
|---|---|
| Loan amount | $309,120 |
| Principal and interest | $2,079 |
| Property taxes (0.70% a year) | $225 |
| Homeowners insurance (our estimate, 0.5% a year) | $161 |
| PMI | $0 |
| Total per month | $2,466 |
Change the numbers in the calculator
| Down payment | $13,524 |
|---|---|
| Loan amount | $379,401 |
| Principal and interest | $2,552 |
| Property taxes (0.70% a year) | $225 |
| Homeowners insurance (our estimate, 0.5% a year) | $161 |
| FHA mortgage insurance | $171 |
| Total per month | $3,110 |
Change the numbers in the calculator
Questions about home buying in Bishop
What is the median home value in Bishop?
About $386,400 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Bishop?
Homeowners pay a median $2,709 a year, which is about 0.70% 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 Bishop?
For the median home with 20% down at 7.11%, the payment is about $2,466 a month. Keeping that under 28% of gross income takes about $105,680 a year.
More about Bishop
- Mortgage Refinance in Bishop
- Debt Relief in Bishop
- Home Equity Loans in Bishop
- 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