Total monthly cost of ownership
Cost to Own a Home in Lucerne, California
A $234,000 home here costs
$1,837per month, all in, with 20% down at today's 7.24% 30-year fixed rate. By the 28% rule that takes a household income of about $78,500 a year.
A standard mortgage calculator would have told you $1,276. The real number is $561 higher every month, 44% more than the payment most buyers budget for.
Compare Lake County with anywhere in America · full county breakdown
Small-place caveat: the Census publishes these figures for Lucerne from a five-year rolling sample, and with about 3,156 residents that sample is small. The median home value here carries a much wider margin of error than a big-city figure does, so treat it as indicative rather than exact. The Lake County figures are drawn from a far larger sample if you want a steadier number.
Where every dollar goes
Only the first line is a mortgage payment. Change any assumption above and every figure below recalculates.
Lucerne against Lake County and California
| Measure | Lucerne | Lake County |
|---|---|---|
| Median home value | $234,400 | $316,800 |
| Median property tax | $1,347 | $2,295 |
| Effective tax rate | 0.575% | 0.724% |
| Median gross rent | $1,368 | $1,292 |
| Population | 3,156 | 68,139 |
The weather behind that power bill
Lucerne sits in Lake County, which averages a high of 94.0°F in its hottest month and a low of 36.0°F in its coldest, with 34.84" of precipitation a year and 57% of it in a single three-month stretch. That climate drives 1,005 cooling and 2,879 heating degree days, which is what sets the $150 electricity line above.
See the full climate breakdown for Lake County , month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Lake County
Full Lake County cost breakdown · Every county in California
Talk to someone who works this market
These are Lucerne averages. What one specific house costs to own, or what it would sell for today, depends on the street and the condition of the place. We will connect you with one licensed local agent who works Lucerne every week. Free, no obligation, and we never sell your details to a list.
I'm looking to buy in Lucerne I already own here and may sell
Common questions
How much does it cost to own a home in Lucerne?
A $234,000 home in Lucerne, California costs approximately $1,837 per month with 20% down at 7.24%. That is $1,276 principal and interest, $112 property tax, $36 homeowners insurance, $218 utilities and $195 set aside for maintenance.
What is the property tax rate in Lucerne?
Lucerne has an effective property tax rate of 0.575%, based on a median home value of $234,400 and median real estate taxes of $1,347. That is lower than the Lake County average of 0.724%.
What is the average home price in Lucerne?
The median owner-occupied home value in Lucerne, California is $234,400, against $316,800 across Lake County.
Is it cheaper to rent or buy in Lucerne?
Median gross rent in Lucerne is $1,368 a month, against $1,837 to own the median home all in. Renting costs less month to month here, though renting builds no equity.
What salary do you need to buy a home in Lucerne?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in Lucerne, California at today's rate takes a household income of roughly $78,500 a year. That covers the full $1,837 monthly cost, not just the mortgage payment.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Lucerne, US Census Bureau, American Community Survey ACS 2023 5-Year, place-level tables.
- Homeowners insurance, NAIC average premium for California.
- Electricity price, EIA Electric Power Monthly Table 5.6.A.
- Mortgage rate, Freddie Mac PMMS, refreshed weekly.
- Maintenance (1%/yr) and water and sewer ($68/mo) are national estimates. Every assumption above is editable.