The typical owner-occupied home in El Verano is worth about $909,300, 24% above the California median of $734,700 and 2.7 times the national median of $332,700. Owners pay a median $8,313 a year in property taxes, about 0.91% of their home's value, higher than the California rate of 0.70%. The median household earns $123,738 a year, so the median home costs 7.3 times the median income (7.4 times for California). 59% of occupied homes here are lived in by their owners, and 72% of those owners still have a mortgage.
El Verano at a glance
| El Verano | California | U.S. | |
|---|---|---|---|
| Median home value | $909,300 | $734,700 | $332,700 |
| Median property tax paid per year | $8,313 | $5,124 | $3,119 |
| Property tax as a share of value | 0.91% | 0.70% | 0.94% |
| Median household income | $123,738 | $99,122 | $80,734 |
| Homes lived in by their owners | 59% | 56% | 65% |
| Owner homes with a mortgage | 72% | 67% | 61% |
| Median monthly costs, owners with a mortgage | $3,057 | $2,946 | $1,963 |
| Those costs as a share of the owners' income | 24.5% | 24.8% | 21.0% |
| Median rent | $2,372 | $2,036 | $1,413 |
| Rent as a share of renters' income | 31.4% | 32.8% | 30.6% |
| Median year homes were built | 1976 | 1976 | 1980 |
| Vacant homes | 7.9% | 7.5% | 10.1% |
| Population | 3,443 | 39,287,377 | 334,922,499 |
What a typical home costs per month in El Verano
At this week's average 30-year rate of 7.11%, buying the median El Verano home of $909,300 with 20% down costs about $5,962 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $7,623, 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 $255,513 for the 20%-down payment. That payment is 58% of the median El Verano household income of $123,738; at that income and 20% down, the 28% guideline points to a home of about $440,000.
The median rent here is $2,372 a month, so owning the median home costs about $3,590 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $181,860 |
|---|---|
| Loan amount | $727,440 |
| Principal and interest | $4,894 |
| Property taxes (0.91% a year) | $690 |
| Homeowners insurance (our estimate, 0.5% a year) | $379 |
| PMI | $0 |
| Total per month | $5,962 |
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| Down payment | $31,826 |
|---|---|
| Loan amount | $892,830 |
| Principal and interest | $6,006 |
| Property taxes (0.91% a year) | $690 |
| Homeowners insurance (our estimate, 0.5% a year) | $379 |
| FHA mortgage insurance | $548 |
| Total per month | $7,623 |
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Questions about home buying in El Verano
What is the median home value in El Verano?
About $909,300 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in El Verano?
Homeowners pay a median $8,313 a year, which is about 0.91% 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 El Verano?
For the median home with 20% down at 7.11%, the payment is about $5,962 a month. Keeping that under 28% of gross income takes about $255,513 a year.
More about El Verano
- Mortgage Refinance in El Verano
- Debt Relief in El Verano
- Home Equity Loans in El Verano
- 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