Banning, California.
Typical home $409,691 (-0.7% in a year), asking rent $1,870 (+3.3%). Riverside-San Bernardino-Ontario, CA metro.
to buy the typical home at today's mortgage rate — +$1,095 (+104%) since Jan 2020.
- 1 year
- Down $2,772 -1%
- $412,463$409,691 since Sep 2025
- 5 years
- Up $46,652 +13%
- $363,039$409,691 since Sep 2021
Monthly payment to buy the typical home
Home value × that month's 30-year mortgage rate, 20% down, principal and interest. This is the line households feel: prices and rates compound each other.
- Banning$2,150
- California$3,997
- United States$1,922
At the last five years' pace, a typical home here doubles in price every 29 years.
Typical home values in Banning, CA fell 0.7% over the past year — slower than the nation's +1.2%.
Asking rents in Banning, CA rose 3.3% over the past year — faster than the nation's +2.7%.
Owning the typical home in Banning runs $985/mo more than renting one. The gap peaked at $1,223 in May 2025.
That is $2,855 a month against $1,870 rent: a $2,150 mortgage payment, plus $266 property tax and $439 insurance & upkeep.
Owning vs renting — Banning
The owning line is the typical home's monthly payment at that month's rate, plus property tax and insurance & upkeep; the renting line is the typical asking rent; the grey line is the mortgage payment on its own. Same homes, same months, both ways of paying for a roof.
- Owning all in$2,855
- Renting$1,870
- Mortgage only$2,150
Property tax · $266/mo 0.78% of value a year — the ACS 2020-2024 median bill over the median home value for Riverside County, CA
Insurance & upkeep · $439/mo insurance, maintenance and repairs together, from the BLS Consumer Expenditure Survey — the national figure for mortgaged homeowners, scaled to this market's home value. BLS publishes the three bundled and they cannot be split.
Both are priced off the same month's home value, so they rise with the market. Neither is a quote — a specific home's bill depends on its assessment, its age and its insurer.
Living in Banning, Riverside County, California
Banning is a city of 29,505 people in Riverside County. Half its households earn more than $61,764 a year and half less, against $93,074 across Riverside County; 19% of its people live below the poverty line. 70% of its homes are lived in by their owners and 30% are rented. Unemployment in Banning was 7.5% in August 2026, and Riverside County had 0.7% more jobs in 2025 than the year before. The most residents work in schools and health care, then shops.
Written by AI Claude Sonnet 5.5 wrote this on 23 October 2026 from the figures here, a list of nearby places and what it knows. It can be wrong or out of date.
What it’s like
The place. Banning is a city in Riverside County where most homes are lived in by their owners, and where residents are somewhat older than in many places. Household incomes sit well below the county's, and a good many residents live below the poverty line. Winters are mild, with little or no snow, and summers are hot and dry in the way of inland Southern California, with little rain through the year.
Work. Many residents work in schools, hospitals and social care, with shops, transport and warehouses, and the building trades also employing a good number. Among the larger workplaces in Banning are Banning Unified, the school district, and San Gorgonio Memorial, the general hospital. Fewer adults hold a four-year degree than is typical, the commute is fairly long, and unemployment has stayed about where it was a year ago.
Things to do. Gilman Ranch, a museum, is in or beside town. San Bernardino National Forest, a protected area, is a short drive away. For a longer outing, Lake Perris is a lake a longer drive away, and Big Bear Lake, a reservoir, is also a longer drive away.
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- 11,624households
- 16%of adults have a degree
- 19%below the poverty line
- 33 mintypical commute
- 8%work from home
What residents work in
Employed residents by industry, from the Census survey. Riverside County had 846,070 jobs in 2025, 0.7% more than the year before (Bureau of Labor Statistics).
Weather through the year
Coldest in December, with highs near 65° and lows near 39°; warmest in August, with highs near 96° and lows near 64°. About 12 inches of rain a year, and little or no snow.
Average daily high and low, 1991–2020, at the San Jacinto weather station, 11 miles away (NOAA).
Largest workplaces in Banning
- Banning UnifiedSchool district566FTE
- San Gorgonio MemorialGeneral hospital493FTE
- Estes West238
- Sundance Creek Post AcuteSkilled nursing facilities166
- Lawrence Equipment BanningBakery machinery and equipment manufacturing125
- AlbertsonsSupermarkets and other grocery stores79
- Heritage Grocers GroupSupermarkets and other grocery retailers65
- John Harrison ContractingRefrigeration equipment repair and maintenance services, industrial and commercial-type50
Staff on average in 2025, as each workplace reported it to OSHA with its injury records: 12 workplaces with 20 or more staff, 1,515 people in all. School districts come from the Common Core of Data (NCES, 2023–24) and hospitals from their Medicare cost reports (CMS, 2023); FTE marks full-time equivalent staff. Not listed: many offices and banks, which need not report to OSHA; military bases, whose staff OPM withholds; and, in about half the states, city and county governments.
Natural hazards
- WildfireVery high
- EarthquakesVery high
- Inland floodingrelatively high in parts of BanningRelatively moderate
- Heat wavesRelatively moderate
FEMA’s National Risk Index (December 2025) rates the risk each natural hazard poses to the people, buildings and farms in Banning’s census tracts, against the rest of the country; all of them together, relatively high. It is meant for planning, not a substitute for a local risk assessment or a flood map: FEMA’s index.
From the U.S. Census Bureau’s 2020 census and its American Community Survey (2020–2024 five-year estimates), and the Bureau of Labor Statistics. A survey, so each figure has a margin of error, and figures it is not sure of are left out. More on Riverside County and the Riverside-San Bernardino-Ontario, CA metro.
Banning home values
Zillow measures a city over its municipal boundary. Against the state and national figures, mid-tier homes, smoothed and seasonally adjusted.
- Banning$409,691
- California$761,538
- United States$366,157
Sellers are cutting prices on about 1 in 4 Banning listings, and the typical home goes pending in 25 days — the market is cooling.
When this market ran hot
Each cell is that month's year-on-year home-value growth. Read left to right, top row is the latest year — the 2021–22 band is the boom.
Market heat, inside the city limits
Share of listings with a price cut
The early-warning dial: sellers cut when buyers stop reaching. Rising cuts cool a market months before prices notice.
- Banning23.21%
- United States26.90%
Days to pending
How long the typical listing takes to go under contract.
- Banning25
- United States27
Homes for sale
Active for-sale inventory. More supply hands power to buyers.
- Banning148
New listings per month
Sellers arriving at the market.
- Banning51
Median sale price
What buyers actually paid — closed sales, not asking prices.
- Banning$371,433
- United States$371,407
Zip codes with a Banning address
A different geography, not a breakdown. The figure above covers the municipality; these zips cover everywhere the Post Office calls Banning — often including townships beyond the city limits. Both come straight from Zillow, and they are not expected to average out.