City of Perris

City of Perris City of Perris

 

City of Perris

Housing Stock

Housing prices in Perris are still affordable compared with other cities in the region. The Perris and Sun City area will provide the most future housing inventory in Western Riverside County in the near future.

Perris Home Values

The median home value in Perris is $230,100. Perris home values have gone up 16.5% over the past year and Zillow predicts they will rise 8.3% within the next year. The median list price per square foot in Perris is $128, which is lower than the Riverside Metro average of $166. The median price of homes currently listed in Perris is $255,000 while the median price of homes that sold is $235,300.

Foreclosures will be a factor impacting home values in the next several years. In Perris 5.8 homes are foreclosed (per 10,000). This is greater than the Riverside Metro value of 4.2 and also greater than the national value of 4.0. Many homeowners are underwater on their mortgages, meaning they owe more than their home is worth. The percent of Perris homeowners underwater on their mortgage is 22.5%, which is higher than Riverside Metro at 18.2%.

Perris Apartments and Rentals

The median rent price in Perris is $1,499, which is lower than the Riverside Metro median of $1,535.
Renters make up 29.59% of the Perris population.

Single-Family New House Building Permits

  • 1996: 116 buildings, average cost: $93,000
  • 1997: 116 buildings, average cost: $89,100
  • 1998: 85 buildings, average cost: $97,000
  • 1999: 186 buildings, average cost: $96,100
  • 2000: 9 buildings, average cost: $124,200
  • 2001: 145 buildings, average cost: $135,500
  • 2002: 492 buildings, average cost: $136,200
  • 2003: 1269 buildings, average cost: $148,800
  • 2004: 1573 buildings, average cost: $154,700
  • 2005: 1746 buildings, average cost: $165,500
  • 2006: 812 buildings, average cost: $182,100
  • 2007: 599 buildings, average cost: $162,900
  • 2008: 107 buildings, average cost: $141,400
  • 2009: 147 buildings, average cost: $117,300
  • 2010: 207 buildings, average cost: $117,300
  • 2011: 63 buildings, average cost: $118,800
  • 2012: 60 buildings, average cost: $127,500