Quick facts: Downey, CA

Quick Facts

135.2
Cost of Living
above US average
109,934
Population
25.73
Crime Rate per 1000
above US average
$84,236
Median Income
above US average
$1,054,700
Median House Price
above US average
$3398.0
Average Rent
above US average
12%
Poverty Rate
above US average
5.6%
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 $84,236.

🏠

Income Needed to Buy

βœ— Stretch
$331k/year
Based on $1,054,700 median home price
Assumes 30-year mortgage at 7% with 20% down payment
⚠️ Requires $331k vs median $84,236
🏒

Income Needed to Rent

⚠ Stretch
$146k/year
Based on $3398.0/month average rent
Annual income where rent = 28% of gross
⚠️ Requires $146k vs median $84,236
πŸ’‘ 28/36 Rule: Housing ≀28% of gross income, total debt ≀36%. This is a guideline used by many lenders.

Overview for Downey, CA

Downey, located in Los Angeles County, California, is a vibrant city with a rich history and diverse community. Founded in the late 19th century, it became one of the first cities in California to have a movie theater and is known for its contributions to the aerospace industry during the Cold War. Today, Downey is a thriving urban area with a population of approximately 113,000. The city is well-known for its excellent schools, making it a desirable place for families. Downey's historical attractions include the Columbia Memorial Space Center, which showcases the city’s aeronautical heritage. The city boasts numerous parks and recreational facilities, providing residents and visitors with ample opportunities for outdoor activities. Downey's dining scene is diverse, featuring a mix of cuisines, from classic American diners to vibrant Mexican restaurants. The city is also strategically located near major freeways, making it accessible to other parts of Los Angeles County and beyond. With a growing arts scene and community events throughout the year, Downey offers a blend of culture, history, and modern conveniences.

πŸ” Search & Compare Places

First Location πŸ“