Home Affordability in Garden Grove, CA
The median home price in Garden Grove is $800,000 with a median household income of $66,270. Housing is significantly stretched relative to local incomes.
Median Home Price
$800,000
Median Income
$66,270
Price-to-Income Ratio
12.1x
Est. Affordable Home
$258,000
Property Tax Rate
0.68%
Annual Property Tax
$5,440
Sales Tax Rate
8.75%
Cost of Living Index
140
Buying a Home in Garden Grove
Based on the 28% rule (spending no more than 28% of gross income on housing), a household earning the median income of $66,270 in Garden Grove can afford a monthly housing payment of approximately $1,546. This translates to a home price of roughly $258,000, which is below the median home price of $800,000 — many households may need a higher income, larger down payment, or should consider more affordable neighborhoods.
Property taxes on a median-priced home in Garden Grove would be approximately $5,440 per year ($453/month) at the effective rate of 0.68%.
Down Payment Scenarios
| Down Payment | Amount | Loan Amount | PMI Required |
|---|---|---|---|
| 3% | $24,000 | $776,000 | Yes |
| 5% | $40,000 | $760,000 | Yes |
| 10% | $80,000 | $720,000 | Yes |
| 20% | $160,000 | $640,000 | No |
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