Total monthly cost of ownership
Cost to Own a Home in Simi Valley, California
A $754,000 home here costs
$5,621per month, all in, with 20% down at today's 7.40% 30-year fixed rate. By the 28% rule that takes a household income of about $241,000 a year.
A standard mortgage calculator would have told you $4,176. The real number is $1,444 higher every month, 35% more than the payment most buyers budget for.
Compare Ventura County with anywhere in America · full county breakdown
Where every dollar goes
Only the first line is a mortgage payment. Change any assumption above and every figure below recalculates.
Simi Valley against Ventura County and California
| Measure | Simi Valley | Ventura County |
|---|---|---|
| Median home value | $753,500 | $768,400 |
| Median property tax | $5,540 | $5,326 |
| Effective tax rate | 0.735% | 0.693% |
| Median gross rent | $2,513 | $2,248 |
| Population | 125,769 | 838,259 |
The weather behind that power bill
Simi Valley sits in Ventura County, which averages a high of 79.6°F in its hottest month and a low of 43.8°F in its coldest, with 12.01" of precipitation a year and 65% of it in a single three-month stretch. That climate drives 643 cooling and 1,551 heating degree days, which is what sets the $169 electricity line above.
See the full climate breakdown for Ventura County , month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Ventura County
Full Ventura County cost breakdown · Every county in California
Talk to someone who works this market
These are Simi Valley 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 Simi Valley every week. Free, no obligation, and we never sell your details to a list.
I'm looking to buy in Simi Valley I already own here and may sell
Common questions
How much does it cost to own a home in Simi Valley?
A $754,000 home in Simi Valley, California costs approximately $5,621 per month with 20% down at 7.4%. That is $4,176 principal and interest, $462 property tax, $117 homeowners insurance, $237 utilities and $628 set aside for maintenance.
What is the property tax rate in Simi Valley?
Simi Valley has an effective property tax rate of 0.735%, based on a median home value of $753,500 and median real estate taxes of $5,540. That is higher than the Ventura County average of 0.693%.
What is the average home price in Simi Valley?
The median owner-occupied home value in Simi Valley, California is $753,500, against $768,400 across Ventura County.
Is it cheaper to rent or buy in Simi Valley?
Median gross rent in Simi Valley is $2,513 a month, against $5,621 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 Simi Valley?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in Simi Valley, California at today's rate takes a household income of roughly $241,000 a year. That covers the full $5,621 monthly cost, not just the mortgage payment.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Simi Valley, 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.