Quick facts: Corona, CA

Quick Facts

127.6
Cost of Living
above US average
159,567
Population
23.82
Crime Rate per 1000
above US average
$103,727
Median Income
above US average
$805,000
Median House Price
above US average
$2796
Average Rent
above US average
11%
Poverty Rate
above US average
4.1%
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 $103,727.

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Income Needed to Buy

βœ— Stretch
$253k/year
Based on $805,000 median home price
Assumes 30-year mortgage at 7% with 20% down payment
⚠️ Requires $253k vs median $103,727
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Income Needed to Rent

⚠ Stretch
$120k/year
Based on $2796/month average rent
Annual income where rent = 28% of gross
⚠️ Requires $120k vs median $103,727
πŸ’‘ 28/36 Rule: Housing ≀28% of gross income, total debt ≀36%. This is a guideline used by many lenders.

Overview for Corona, CA

Corona is a vibrant city located in Riverside County, California, approximately 45 miles southeast of downtown Los Angeles. Known for its diverse communities and scenic views, Corona is nestled at the base of the Santa Ana Mountains, providing a backdrop of natural beauty. With a population exceeding 170,000, it has grown significantly over the years, driven by its appealing residential areas and family-friendly environment. The city is well-connected via major freeways, including the 15 and 91, making it easily accessible for commuters. Corona boasts a variety of parks, recreational facilities, and outdoor activities, with the nearby Cleveland National Forest offering hiking and biking trails. Local attractions include the Corona Heritage Park and Museum, the Fender Museum of Music, and numerous shopping and dining options in the historic downtown area. Education is a priority here, with a mix of public and private schools, and the city is served by multiple school districts. With its blend of suburban charm, access to urban amenities, and a strong sense of community, Corona continues to be an appealing place to live, work, and play in Southern California.

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