Quick facts: Covina, CA

Quick Facts

113.5
Cost of Living
above US average
49,489
Population
27.7
Crime Rate per 1000
above US average
$89,650
Median Income
above US average
$699,000
Median House Price
above US average
$2693.85
Average Rent
above US average
12%
Poverty Rate
above US average
6.0%
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 $89,650.

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Income Needed to Buy

βœ— Stretch
$219k/year
Based on $699,000 median home price
Assumes 30-year mortgage at 7% with 20% down payment
⚠️ Requires $219k vs median $89,650
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Income Needed to Rent

⚠ Stretch
$115k/year
Based on $2693.85/month average rent
Annual income where rent = 28% of gross
⚠️ Requires $115k vs median $89,650
πŸ’‘ 28/36 Rule: Housing ≀28% of gross income, total debt ≀36%. This is a guideline used by many lenders.

Overview for Covina, CA

Covina is a charming city located in Los Angeles County, California, known for its suburban feel and close-knit community vibe. With a population of around 50,000, Covina offers a blend of residential neighborhoods and local businesses, contributing to its small-town atmosphere despite being part of the sprawling Los Angeles metropolitan area. The city is characterized by its rich history, with roots dating back to the late 1800s. Covina features a variety of parks and recreational facilities, such as the Covina Park, which includes sports fields and playgrounds, making it great for families. The downtown area is home to a mix of shops, restaurants, and entertainment options, fostering a vibrant local culture. Covina is also conveniently located near major highways, allowing for easy access to surrounding areas, including Los Angeles, Pasadena, and the San Gabriel Valley. This accessibility makes it an appealing spot for commuters. The city hosts community events throughout the year, including festivals and holiday celebrations, reinforcing its sense of community. Covina's moderate climate and proximity to both urban amenities and outdoor activities in the nearby San Gabriel Mountains add to its attractiveness as a place to live.

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