Quick facts: El monte, CA

Quick Facts

127.6
Cost of Living
above US average
105,312
Population
20.02
Crime Rate per 1000
below US average
$59,929
Median Income
below US average
$460,000
Median House Price
above US average
$2796
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 $59,929.

🏠

Income Needed to Buy

βœ— Stretch
$144k/year
Based on $460,000 median home price
Assumes 30-year mortgage at 7% with 20% down payment
⚠️ Requires $144k vs median $59,929
🏒

Income Needed to Rent

⚠ Stretch
$120k/year
Based on $2796/month average rent
Annual income where rent = 28% of gross
⚠️ Requires $120k vs median $59,929
πŸ’‘ 28/36 Rule: Housing ≀28% of gross income, total debt ≀36%. This is a guideline used by many lenders.

Overview for El monte, CA

El Monte, located in Los Angeles County, California, is a vibrant city situated approximately 12 miles east of downtown Los Angeles. Known for its diverse community and rich cultural heritage, El Monte has a population of around 115,000 residents. The city boasts a mix of residential, commercial, and industrial areas, making it a vital hub within the San Gabriel Valley. El Monte is characterized by its numerous parks and recreational facilities, including the popular Arcadia Park and El Monte Historical Museum, which highlights the city's history. The area is well-connected with public transport options, including the Metro Gold Line and several bus routes, facilitating easy access to nearby cities. Home to a variety of eateries, shopping centers, and local businesses, El Monte also hosts annual events and festivals that celebrate its community spirit. With its strategic location, El Monte provides residents with a suburban atmosphere while still being close to the bustling urban environment of Los Angeles, offering both convenience and a sense of community.

πŸ” Search & Compare Places

First Location πŸ“