Quick facts: Torrance, CA

Quick Facts

130.5
Cost of Living
above US average
141,126
Population
22.29
Crime Rate per 1000
below US average
$109,554
Median Income
above US average
$950,000
Median House Price
above US average
$3377.84
Average Rent
above US average
8%
Poverty Rate
below US average
4.9%
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 $109,554.

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Income Needed to Buy

βœ— Stretch
$298k/year
Based on $950,000 median home price
Assumes 30-year mortgage at 7% with 20% down payment
⚠️ Requires $298k vs median $109,554
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Income Needed to Rent

⚠ Stretch
$145k/year
Based on $3377.84/month average rent
Annual income where rent = 28% of gross
⚠️ Requires $145k vs median $109,554
πŸ’‘ 28/36 Rule: Housing ≀28% of gross income, total debt ≀36%. This is a guideline used by many lenders.

Overview for Torrance, CA

Torrance, located in the Los Angeles County region of California, is a vibrant city known for its diverse community, beautiful beaches, and robust economy. Situated approximately 20 miles southwest of downtown Los Angeles, Torrance boasts a mix of suburban charm and urban amenities. The city covers around 20 square miles and is home to over 145,000 residents. Torrance is renowned for its excellent schools, numerous parks, and family-friendly atmosphere. Outdoor enthusiasts can enjoy local spots like Torrance Beach and the scenic Madrona Marsh Nature Center. Torrance also features a thriving commercial sector, including the Del Amo Fashion Center, one of the largest shopping malls in the United States. The city's economy is further strengthened by a range of industries, from aerospace to technology. Culturally, Torrance celebrates its diversity through various events and festivals throughout the year, reflecting the community's rich tapestry. Its mild climate offers year-round access to outdoor activities, making it an attractive destination for residents and visitors alike.

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