Torrance, CA
Los Angeles County · Pop. 144,430
Ranked #238 of 243 cities
14Crisis
Median Home Price
🏠$1.1M
3.5% YoY
Median Rent
🔑$2,600
3.0% YoY
Median Income
💰$88K
Rent Burden
📊35.5%
% of income to rent
Income to Buy
🏦$302K
annual income needed
Income to Rent
📝$104K
annual income needed
Price-to-Income
⚖️11.9x
Homeownership
🏡52.0%
Rent vs. Buy
Buy
$5,589/mo
Est. mortgage (7%, 20% down)
Need $302K/yr income
Rent
$2,600/mo
Median rent
Need $104K/yr income
How Torrance Compares
| Metric | Torrance | California | National |
|---|---|---|---|
| Home Price | $1.1M | $726K | $410K |
| Rent | $2,600 | $1,992 | $1,500 |
| Income | $88K | $96K | $75K |
| Rent Burden | 35.5% | 40.5% | 30.0% |
Key Takeaways
- • Home prices in Torrance are 156% higher than the national average.
- • Rent is 73% higher than the national average.
- • You need an income of $302K to comfortably buy a home here.
- • The homeownership rate is 52.0%, compared to 65.0% nationally.