California · Riverside-San Bernardino-Ontario, CA metro area

Buying a home in Menifee, California

In Menifee, the median value of owner-occupied homes is $537,300, Riverside County's effective property tax rate is 0.78%, a purchase mortgage carried a median $11,758 in total loan costs in 2025, and median gross rent is $2,110 a month.

Data as of : Census ACS 2020-2024, Census Vintage 2024, HMDA 2025, HUD FY 2027. Sources

Menifee home costs, fact by fact

About Menifee

In Riverside County, the effective property tax rate (median tax as a share of home value) is 0.78%, and HUD's Fair Market Rent for a two-bedroom is $2,103. Menifee, California, has a population of 117,041, and its median value of owner-occupied homes, estimated by owners rather than a sale price, is $537,300.

Reading the Menifee figures

Menifee presents an unusual profile among the cities Payotte covers in California: a value of $537,300 and an ownership share of 80.2%, the latter higher than any other city in the comparison set below. The state figure is $770,700, so Menifee sits well beneath it. Within the set, the city is above Santa Maria around $531,700, Sacramento around $506,300, Moreno Valley around $503,700 and Rialto around $487,900, plus Clovis around $482,700 and Palmdale around $471,000, and below Jurupa Valley around $574,600, Riverside around $584,800, Fontana around $586,800, Vallejo around $589,500, Pomona around $593,800 and Ontario around $607,600. Los Angeles, at $921,200, is the far end of that group. Every value here is a homeowner's own estimate, with no sale behind it.

Rent deserves its own look. Menifee's $2,110 a month is above Riverside around $1,914, Ontario around $2,030, Vallejo around $2,073, Sacramento around $1,779 and Fontana around $1,839, and a shade under Moreno Valley's $2,135. Jurupa Valley asks $1,741 and Pomona $1,810. The share of owners, 80.2%, compares with 70.1% in Jurupa Valley, 66.8% in Fontana, 66.2% in Rialto and 56.8% in Riverside. Los Angeles, at 36%, is the opposite end of the scale.

The federal yardstick for Riverside-San Bernardino-Ontario reads $2,103 at the small size and $2,771 at the large size. Menifee's survey rent of $2,110 lands almost on the smaller-home benchmark, a coincidence of different measures: one is a median of what tenants report, the other a federal reference level. For a bigger home, the $2,771 figure is the one to hold in mind.

The county layer is Riverside County. Annual property tax in the county has a median of $4,348 taxed under an effective rate of 0.78%, over a county median that stands at $557,300, which sits above Menifee's $537,300. Borrowers in the county paid $11,758, at the median, according to 18,333 loans reported for 2025; the central range ran between $6,492 and $17,259.

A note on size: Menifee has 117,041 residents and sits in the Riverside-San Bernardino-Ontario metro area, placed 12th in the country. Riverside itself has 323,757 residents and Fontana 218,455, so Menifee is a smaller city than several of the cities it is compared with here. The loan range is the county's and not the city's, so buyers in different parts of Riverside County face the same published spread. When you compare Menifee with another city, look at what differs: the value, the rent and the share of owners. Against Santa Maria, where the value is $531,700 and rent is $1,925, Menifee asks more in rent for a similar value.

Calculate for California

If you buy

California state transfer tax

California has no state transfer tax; counties and cities may charge one.

Price$770,700
State transfer taxnot computed
Who paysSet by the purchase contract

Default price: the California median value of owner-occupied homes, $770,700 (Census ACS 2025). Not computed: No state tax. The tax is set by county and city, so it cannot be computed from the state alone. Who pays: Neither the state statute nor the City of Los Angeles FAQ assigns the tax; the purchase contract and escrow instructions decide. Not included: county and city transfer taxes, recording fees, title insurance and lender charges. California transfer tax guide · all 50 states.

If you sell

Capital gain and the federal tax on it

Same federal rule in every state: Section 121 of the Internal Revenue Code excludes up to $250,000 of gain on a main home ($500,000 for a married couple filing jointly).

Capital gain$350,000
Section 121 exclusion$250,000 (limit $250,000)
Taxable gain$100,000
Type of gainLong-term (owned over 1 year), 15% chosen
Federal tax on the gain$15,000

Section 121 excludes $250,000; the rest is taxable.

Gain = sale price minus your adjusted basis (purchase price, buying costs and improvements); selling expenses reduce it (IRS Publication 523). Long-term rates for sales in 2026, by taxable income including the gain (IRS Rev. Proc. 2025-32, section 4.03): 0% up to $49,450 single or $98,900 married filing jointly, 15% up to $545,500 single or $613,700 jointly, 20% above. Not included: California state income tax on the gain (not computed), the net investment income tax, depreciation recapture on a rental or home office, and the reduced exclusion for an early sale. Agent commissions are negotiated and never set by law. Capital gains on a home sale.

Questions about buying a home in Menifee

How much is property tax in Menifee?

Homeowners in Riverside County pay a median $4,348 a year in property tax, 0.78% of the county median home value of $557,300 (Census ACS 2020-2024). Your bill depends on your assessed value and local rates.

What are closing costs on a mortgage in Menifee?

Home-purchase mortgages in Riverside County carried median total loan costs of $11,758 in 2025; half of the 18,333 loans fell between $6,492 and $17,259 (HMDA). Total loan costs are the lender and settlement-service charges of the Closing Disclosure; transfer taxes and prepaid items come on top.

Is there a transfer tax when you buy a home in Menifee?

California has no state transfer tax. Counties may charge $0.55 per $500 of value under the Documentary Transfer Tax Act, and cities such as Los Angeles add their own, with Measure ULA adding 4% or 5.5% on very high-priced sales.

Is it cheaper to rent or buy in Menifee?

It depends on your mortgage rate, down payment and how long you stay. As a benchmark, the median value of owner-occupied homes in Menifee ($537,300) equals 21.2 years of the median gross rent ($2,110 a month), both from Census ACS 2020-2024.

What natural hazards affect home insurance in Menifee?

Across California, the main hazards for home insurance are earthquake, wildfire, flood and landslide, and the insurer of last resort is California FAIR Plan. A standard California homeowners policy does not cover earthquake damage; insurers must offer earthquake coverage (Insurance Code 10081), and the FAIR Plan sells limited fire coverage up to $3 million for residential policyholders.

Run your own numbers: rent vs buy calculator · closing costs calculator.

California rules that apply in Menifee

Other large cities in California

Who licenses each trade in California · All covered cities

Sources

California · All states · Federal guides