Quick facts: Banning, CA

Quick Facts

127.6
Cost of Living
above US average
30,683
Population
21.77
Crime Rate per 1000
below US average
$54,083
Median Income
below US average
$385,000
Median House Price
above US average
$2033.44
Average Rent
above US average
14%
Poverty Rate
above US average
6.5%
Unemployment Rate
above US average

πŸ’΅ Affordability Calculator

Based on the 28/36 rule: housing costs should not exceed 28% of your gross income. Compared against local median income of $54,083.

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Income Needed to Buy

βœ— Stretch
$121k/year
Based on $385,000 median home price
Assumes 30-year mortgage at 7% with 20% down payment
⚠️ Requires $121k vs median $54,083
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Income Needed to Rent

⚠ Stretch
$87k/year
Based on $2033.44/month average rent
Annual income where rent = 28% of gross
⚠️ Requires $87k vs median $54,083
πŸ’‘ 28/36 Rule: Housing ≀28% of gross income, total debt ≀36%. This is a guideline used by many lenders.

Overview for Banning, CA

Banning is a charming city located in Riverside County, California, nestled in the San Jacinto Valley between the San Bernardino Mountains and the San Jacinto Mountains. Known for its serene landscapes and small-town feel, Banning has a population of approximately 30,000 residents. The city is situated at an elevation of about 2,100 feet, providing a mild climate with warm summers and cool winters, making it a pleasant destination year-round. Banning has a rich history that dates back to its founding in the late 1800s and is named after the railroad magnate Phineas Banning. It has become known for its historic downtown area, featuring quaint shops and local eateries. The city is also close to several recreational areas, including the nearby San Bernardino National Forest and the famous Mount San Jacinto State Park, ideal for outdoor activities such as hiking, camping, and biking. Moreover, Banning hosts the annual Banning Stagecoach Days, celebrating its heritage with a parade, arts and crafts, and entertainment. With its blend of natural beauty and community spirit, Banning offers a unique glimpse into Southern California's lifestyle.

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