Banning, CA

Average · 102

California · Population 30,680 · Updated March 2026

$1,528
Median Rent / Month
$57,699
Median Income
$322,900
Median Home Value
$1,285
Owner Costs / Month

Affordability

How far your income goes in Banning

31.8%
Rent-to-Income Ratio
Moderate
Rent takes 25-35% of median income — moderate affordability.

Tax Burden in California

State-level tax rates that affect your costs

13.3%
Income Tax (Top Rate)
7.25%
Sales Tax
0.71%
Property Tax Rate

Estimated Annual Costs

$18,336
Annual Rent
$7,674
State Income Tax
$2,293
Property Tax (est.)

Cost of Living Overview

Banning has a cost of living close to the national average, offering a balanced mix of expenses and amenities. With a cost index of 102 (where 100 equals the national median), Banning residents can expect to pay median rent of $1,528/month while earning a median household income of $57,699/year.

The median home value in Banning, CA is $322,900, with typical monthly owner costs around $1,285 including mortgage, insurance, and taxes. At 31.8% rent-to-income ratio, residents of Banning are spending more than the recommended 30% of income on housing, indicating moderate cost burden.

California's top income tax rate of 13.3% is among the highest in the nation, adding to the overall cost burden. Combined with a 7.25% sales tax rate and 0.71% effective property tax rate, the overall tax environment is a factor in the total cost of living in Banning.

Frequently Asked Questions

Common questions about living costs in Banning

What is the cost of living in Banning, CA?
The cost of living index in Banning, CA is 102 (US average = 100). Median monthly rent is $1,528, median household income is $57,699/year, and the median home value is $322,900.
Is Banning, CA affordable?
No, Banning is more expensive than the national average with a cost index of 102. The rent-to-income ratio is 31.8%—above the 30%% affordability threshold.
What is the average rent in Banning, CA?
The median gross rent in Banning, CA is $1,528 per month according to the US Census Bureau ACS 2023 data. Annual rent costs approximately $18,336.
What is the median household income in Banning?
The median household income in Banning, CA is $57,699 per year. This compares to the national median of approximately $80,000.
What are the taxes like in California?
California has a top income tax rate of 13.3%, a sales tax of 7.25%, and an effective property tax rate of 0.71%.