Lake Elsinore, CA

Very High · 149

California · Population 71,516 · Updated March 2026

$1,915
Median Rent / Month
$96,527
Median Income
$505,700
Median Home Value
$2,217
Owner Costs / Month

Affordability

How far your income goes in Lake Elsinore

23.8%
Rent-to-Income Ratio
Affordable
Rent takes less than 25% of median income — considered affordable by HUD standards.

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

$22,980
Annual Rent
$12,838
State Income Tax
$3,590
Property Tax (est.)

Cost of Living Overview

Lake Elsinore has a significantly higher cost of living than most US cities, driven largely by premium housing costs. With a cost index of 149 (where 100 equals the national median), Lake Elsinore residents can expect to pay median rent of $1,915/month while earning a median household income of $96,527/year.

The median home value in Lake Elsinore, CA is $505,700, with typical monthly owner costs around $2,217 including mortgage, insurance, and taxes. The median rent-to-income ratio of 23.8% means housing is relatively affordable here — well below the 30% threshold that HUD considers cost-burdened.

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 Lake Elsinore.

Frequently Asked Questions

Common questions about living costs in Lake Elsinore

What is the cost of living in Lake Elsinore, CA?
The cost of living index in Lake Elsinore, CA is 149 (US average = 100). Median monthly rent is $1,915, median household income is $96,527/year, and the median home value is $505,700.
Is Lake Elsinore, CA affordable?
No, Lake Elsinore is more expensive than the national average with a cost index of 149. The rent-to-income ratio is 23.8%—below the 30%% threshold considered affordable by HUD.
What is the average rent in Lake Elsinore, CA?
The median gross rent in Lake Elsinore, CA is $1,915 per month according to the US Census Bureau ACS 2023 data. Annual rent costs approximately $22,980.
What is the median household income in Lake Elsinore?
The median household income in Lake Elsinore, CA is $96,527 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%.