The typical owner-occupied home in Simi Valley is worth about $823,800, 12% above the California median of $734,700 and 2.5 times the national median of $332,700. Owners pay a median $5,851 a year in property taxes, about 0.71% of their home's value, close to the California rate of 0.70%. The median household earns $122,081 a year, so the median home costs 6.7 times the median income (7.4 times for California). 73% of occupied homes here are lived in by their owners, and 73% of those owners still have a mortgage.
Simi Valley at a glance
| Simi Valley | California | U.S. | |
|---|---|---|---|
| Median home value | $823,800 | $734,700 | $332,700 |
| Median property tax paid per year | $5,851 | $5,124 | $3,119 |
| Property tax as a share of value | 0.71% | 0.70% | 0.94% |
| Median household income | $122,081 | $99,122 | $80,734 |
| Homes lived in by their owners | 73% | 56% | 65% |
| Owner homes with a mortgage | 73% | 67% | 61% |
| Median monthly costs, owners with a mortgage | $3,195 | $2,946 | $1,963 |
| Those costs as a share of the owners' income | 26.0% | 24.8% | 21.0% |
| Median rent | $2,579 | $2,036 | $1,413 |
| Rent as a share of renters' income | 35.8% | 32.8% | 30.6% |
| Median year homes were built | 1980 | 1976 | 1980 |
| Vacant homes | 1.8% | 7.5% | 10.1% |
| Population | 125,634 | 39,287,377 | 334,922,499 |
What a typical home costs per month in Simi Valley
At this week's average 30-year rate of 7.11%, buying the median Simi Valley home of $823,800 with 20% down costs about $5,264 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $6,769, 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 $225,603 for the 20%-down payment. That payment is 52% of the median Simi Valley household income of $122,081; at that income and 20% down, the 28% guideline points to a home of about $446,000.
The median rent here is $2,579 a month, so owning the median home costs about $2,685 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $164,760 |
|---|---|
| Loan amount | $659,040 |
| Principal and interest | $4,433 |
| Property taxes (0.71% a year) | $487 |
| Homeowners insurance (our estimate, 0.5% a year) | $343 |
| PMI | $0 |
| Total per month | $5,264 |
Change the numbers in the calculator
| Down payment | $28,833 |
|---|---|
| Loan amount | $808,879 |
| Principal and interest | $5,441 |
| Property taxes (0.71% a year) | $487 |
| Homeowners insurance (our estimate, 0.5% a year) | $343 |
| FHA mortgage insurance | $497 |
| Total per month | $6,769 |
Change the numbers in the calculator
Questions about home buying in Simi Valley
What is the median home value in Simi Valley?
About $823,800 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Simi Valley?
Homeowners pay a median $5,851 a year, which is about 0.71% 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 Simi Valley?
For the median home with 20% down at 7.11%, the payment is about $5,264 a month. Keeping that under 28% of gross income takes about $225,603 a year.
More about Simi Valley
- Mortgage Refinance in Simi Valley
- Debt Relief in Simi Valley
- Home Equity Loans in Simi Valley
- 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