Total monthly cost of ownership
Cost to Own a Home in West Covina, California
A $712,000 home here costs
$5,199per 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 $223,000 a year.
A standard mortgage calculator would have told you $3,882. The real number is $1,317 higher every month, 34% more than the payment most buyers budget for.
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Where every dollar goes
Only the first line is a mortgage payment. Change any assumption above and every figure below recalculates.
West Covina against Los Angeles County and California
| Measure | West Covina | Los Angeles County |
|---|---|---|
| Median home value | $712,300 | $783,300 |
| Median property tax | $4,750 | $5,438 |
| Effective tax rate | 0.667% | 0.694% |
| Median gross rent | $2,153 | $1,893 |
| Population | 107,436 | 9,848,406 |
The weather behind that power bill
West Covina sits in Los Angeles County, which averages a high of 88.9°F in its hottest month and a low of 44.2°F in its coldest, with 13.91" of precipitation a year and 67% of it in a single three-month stretch. That climate drives 1,481 cooling and 1,400 heating degree days, which is what sets the $150 electricity line above.
See the full climate breakdown for Los Angeles County , month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Los Angeles County
Full Los Angeles County cost breakdown · Every county in California
Talk to someone who works this market
These are West Covina 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 West Covina every week. Free, no obligation, and we never sell your details to a list.
I'm looking to buy in West Covina I already own here and may sell
Common questions
How much does it cost to own a home in West Covina?
A $712,000 home in West Covina, California costs approximately $5,199 per month with 20% down at 7.24%. That is $3,882 principal and interest, $396 property tax, $110 homeowners insurance, $218 utilities and $593 set aside for maintenance.
What is the property tax rate in West Covina?
West Covina has an effective property tax rate of 0.667%, based on a median home value of $712,300 and median real estate taxes of $4,750. That is lower than the Los Angeles County average of 0.694%.
What is the average home price in West Covina?
The median owner-occupied home value in West Covina, California is $712,300, against $783,300 across Los Angeles County.
Is it cheaper to rent or buy in West Covina?
Median gross rent in West Covina is $2,153 a month, against $5,199 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 West Covina?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in West Covina, California at today's rate takes a household income of roughly $223,000 a year. That covers the full $5,199 monthly cost, not just the mortgage payment.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for West Covina, 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.