Mortgage Calculator & Closing Costs: Riverside, CA
Mortgage payment estimates, closing cost breakdowns, and homebuying data for Riverside, California.
Median Home Price
$545K
Population
315K
Avg Monthly Rent
$1,850
Property Tax Rate
0.73% *
* Property tax shown is the California state average effective rate. Actual rates vary by county, city, and school district — check with your local assessor for exact rates in Riverside.
Riverside vs California Median
The median home price in Riverside is $545,000, which is 31% below the California state median of $785,000.
Mortgage Calculator — Riverside, CA
Pre-filled with Riverside median home price and California tax/insurance rates. Adjust for your property.
Three down payment scenarios for a $545K home using California's 0.73% tax rate and $2,200/yr insurance.
5% Down
$4,089/mo
Down: $27,250
Loan: $518K
P&I: $3,273
Tax: $332
Insurance: $183
PMI: $302
10% Down
$3,901/mo
Down: $54,500
Loan: $491K
P&I: $3,100
Tax: $332
Insurance: $183
PMI: $286
20% Down (No PMI)
$3,271/mo
Down: $109,000
Loan: $436K
P&I: $2,756
Tax: $332
Insurance: $183
Income needed (28% rule): $140K/year with 20% down, $167K/year with 10% down.
Rent vs Buy in Riverside
Rent
$1,850/mo
vs
Buy (10% down)
$3,901/mo
Price-to-rent ratio: 24.5 — At a ratio above 20, renting may be more economical in Riverside for shorter stays. Buying costs $2,051 more per month than renting, and it typically takes 5-7 years to break even on the transaction costs of buying.
The median home price in Riverside is $545,000, 31% below the California state median of $785,000. With a population of 314,998, Riverside is a mid-size city where home prices tend to be more accessible than in many parts of California.
Property taxes in California average 0.73% annually. This moderate property tax rate means a $545,000 home in Riverside would carry roughly $332/month in property taxes. Homeowners insurance in California runs approximately $2,200 per year. This is within the normal range nationally.
Average rent in Riverside is $1,850/month. With a price-to-rent ratio above 20, renting could be more economical in the short term — use our Rent vs Buy calculator to model your specific timeline.
Riverside is a higher-cost market. At $545K median, buyers need significant savings or strong income. Down payment assistance through California's CalHFA Dream For All program becomes especially important.
Run a Rent vs Buy analysis
Compare total costs of renting vs buying in Riverside.