Total monthly cost of ownership
Cost to Own a Home in Rancho Mirage, California
A $748,000 home here costs
$5,530per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $3,845. The real number is $1,684 higher every month — 44% more than the payment most buyers budget for.
Where every dollar goes
Only the first line is a mortgage payment. Change any assumption above and every figure below recalculates.
Rancho Mirage against Riverside County and California
| Measure | Rancho Mirage | Riverside County |
|---|---|---|
| Median home value | $747,800 | $510,300 |
| Median property tax | $6,931 | $4,189 |
| Effective tax rate | 0.927% | 0.821% |
| Median gross rent | $1,575 | $1,814 |
| Population | 17,375 | 2,449,909 |
The weather behind that power bill
Rancho Mirage sits in Riverside County, which averages a high of 106.9°F in its hottest month and a low of 37.7°F in its coldest, with 2.96" of precipitation a year and 54% of it in a single three-month stretch. That climate drives 3,880 cooling and 1,108 heating degree days, which is what sets the $299 electricity line above.
See the full climate breakdown for Riverside County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Riverside County
Full Riverside County cost breakdown · Every county in California
Common questions
How much does it cost to own a home in Rancho Mirage?
A $748,000 home in Rancho Mirage, California costs approximately $5,530 per month with 20% down at 6.66%. That is $3,845 principal and interest, $578 property tax, $116 homeowners insurance, $367 utilities and $623 set aside for maintenance.
What is the property tax rate in Rancho Mirage?
Rancho Mirage has an effective property tax rate of 0.927%, based on a median home value of $747,800 and median real estate taxes of $6,931. That is higher than the Riverside County average of 0.821%.
What is the average home price in Rancho Mirage?
The median owner-occupied home value in Rancho Mirage, California is $747,800, against $510,300 across Riverside County.
Is it cheaper to rent or buy in Rancho Mirage?
Median gross rent in Rancho Mirage is $1,575 a month, against $5,530 to own the median home all in. Renting costs less month to month here, though renting builds no equity.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Rancho Mirage — 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.