🏡 Housing costs in Canyon Lake?
A typical home costs $646,500, which is 91.2% more expensive than the national average of $338,100 and 11.9% less expensive than the average California home, at $733,500. Renting a two-bedroom unit in Canyon Lake costs $2,390 per month, which is 67.1% more than the national average of $1,430 and 10.0% more than the state average of $2,150.
💰 Can I afford Canyon Lake?
To live comfortably in Canyon Lake, California, a minimum annual income of $123,840 for a family, and $76,400 for a single person is recommended.
Canyon Lake, CA is known for being an affordable place to live. The cost of living in this city is 8% lower than the California average and 14% lower than the national average. This means that groceries, housing, utilities, and transportation are all much less expensive. In addition, there is no state income tax in California, which helps keep overall living costs low. With its beautiful natural environment and relatively low cost of living, Canyon Lake provides a great quality of life for its residents.
⛅️ Crime Rate and Climate
Canyon Lake, CA is a relatively safe area when it comes to crime. The violent crime rate in Canyon Lake is 8.6, which is significantly lower than the US average of 22.7. Similarly, the property crime rate in Canyon Lake is 21.6, much lower than the US average of 35.4. Overall, this indicates that people living in Canyon Lake can rest assured that their safety and security is well taken care of.
Crime is ranked on a scale of 1 (low crime) to 100 (high crime)
Canyon Lake violent crime is 8.6. (The US average is 22.7)
Canyon Lake property crime is 21.6. (The US average is 35.4)
Canyon Lake, CA enjoys a mild climate year-round with temperatures ranging from the mid-50s-80s during the day and in the 30s-60s at night. It has very low humidity and an average of 300 days of sunshine each year.
Summertime temperatures rarely exceed 90 degrees Fahrenheit while winter nights can sometimes dip to freezing or below. Precipitation is scarce in Canyon Lake, averaging only 8 inches a year, mostly in the form of light winter rains. Winters are usually mild but can be rainy and windy at times.
Canyon Lake, California gets 12 inches of rain, on average, per year. The US average is 38 inches of rain per year.
Canyon Lake averages 0 inches of snow per year. The US average is 28 inches of snow per year.
On average, there are 269 sunny days per year in Canyon Lake. The US average is 205 sunny days.
Canyon Lake gets some kind of precipitation, on average, 31 days per year. Precipitation is rain, snow, sleet, or hail that falls to the ground. In order for precipitation to be counted you have to get at least .01 inches on the ground to measure.
🚸 Schools in Canyon Lake
Canyon Lake, CA has been recognized for its excellent education system and high school rating. Students attending local schools benefit from outstanding teachers, a rigorous curriculum and multiple extracurricular activities. The local education system has been designed to provide children with the skills and knowledge needed to build successful lives as they enter adulthood. Canyon Lake prioritizes quality education for its students by providing them with access to the latest technologies, resources, and professional support networks. Additionally, Canyon Lake is committed to ensuring that all of its students have equal access to educational opportunity regardless of family income or background.
With an emphasis on student learning outcomes, Canyon Lake’s education system is dedicated to providing a well-rounded academic experience that prepares each student for their future.
Canyon Lake schools spend $8,682 per student (The US average is $12,383). There are 25 pupils per teacher, 22,114 students per librarian, and 680 children per counselor.
📊 Economy in Canyon Lake
Canyon Lake, CA is a small town situated on the North shore of Canyon Lake in Riverside County. It is known for its beautiful natural setting and friendly community. The two bedroom rent in this area is approximately $2,390 compared to the average US two bedroom rent of $1,430. Additionally, the Grocery Cost Index (GCI) in Canyon Lake CA is 100 which is on par with the US average GCI.
The town of Canyon Lake has many local businesses and companies ranging from restaurants to outdoor activities such as fishing charters or boat tours. Some popular local companies include Canyon Lake Restaurant & Bar, Vino Di Amore Wine Tasting Room & Gift Shop, and Fishin’ with Friends Bass Fishing Charters. These businesses all offer unique experiences that allow visitors to get a taste of what life in Canyon Lake is like.
Canyon Lake has an unemployment rate of 7.7%. The US average is 6.0%.
Canyon Lake has seen the job market increase by 2.2% over the last year. Future job growth over the next ten years is predicted to be 38.8%, which is higher than the US average of 33.5%.
Tax Rates for Canyon Lake
– The Sales Tax Rate for Canyon Lake is 7.8%. The US average is 7.3%.
– The Income Tax Rate for Canyon Lake is 9.3%. The US average is 4.6%.
– Tax Rates can have a big impact when Comparing Cost of Living.
Housing Stats
Canyon Lake, CA is a beautiful area with considerable housing value. The median value of homes in Canyon Lake is $646,500, significantly higher than the US median house value of $338,100. Furthermore, the appreciation rate for one year is also higher in Canyon Lake at 9.15%, compared to 8.27% nationally. As such, Canyon Lake has seen substantial growth in real estate value and remains an attractive place for people to purchase homes.
The median home cost in Canyon Lake is $646,500. Home appreciation the last 10 years has been 193.0%. Home Appreciation in Canyon Lake is up 17.4%.
Average Age of Homes
-The median age of Canyon Lake real estate is 32 years old.
The Rental Market in Canyon Lake
-Renters make up 12.8% of the Canyon Lake population.
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