ZIP Code · CA

ZIP 92532

Part of Lake Elsinore, CA

Pop. 28,055·Riverside County·495th most expensive ZIP in California

Median rent (all units)

$2,722/mo

Year-over-Year

+2.8%

Month-over-Month

+1.0%

vs US Median

+$790

Reported rents

Rising (Monthly)

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Most AffordableMost Expensive

ZIP 92532 · $2,722

More expensive than 85% of US ZIP codes · National median $1,932/mo

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Medians by bedroom

Rent by unit size

Studio

$2,350

1 BR

$2,460

2 BR

$3,050

3 BR

$4,040

4 BR+

$4,870

Research median

$3,050/mo

Bedroom estimates are gross rents that include essential utilities (electricity, water, gas, sewer, trash).

Rent trends

12-month history

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Last updated: October 17, 2026

From the history

What the numbers show

Compared with the peak

Rent in ZIP 92532 is 0.4% below its high of $2,734 in January 2025, at $2,722 as of September 2026.

Past year vs. the rest of California

Rent in ZIP 92532 changed +2.8% over the year to September 2026. Across the 819 California ZIP codes Zillow tracks, the typical change was +3.2%.

Recent direction

Rent has risen 2 months in a row, and rose in 7 of the last 12 months.

What a typical income covers

30% of the median household income ($122,312) is $3,058 a month. That covers HUD's Fair Market Rent for up to a 2-bedroom ($3,050); a 3-bedroom is $4,040.

Cheaper nearby

ZIP 92530, 5 miles away, rents for 18% less ($2,239/mo), about $5,800 a year in savings.

From Zillow's monthly rent index (ZORI) for ZIP 92532. Income is the Census median household income (5-year estimates). Fair Market Rents are HUD’s, which include utilities.

Annual cost

$32,664/yr

At $2,722/mo median

Location

CityLake Elsinore

StateCA

CountyRiverside County

Rent Market Meter

Landlord's Market

Renter's MarketBalancedLandlord's Market

Rents are climbing (2.8% YoY), so leverage tilts toward landlords. Act sooner rather than later.

Based on rent-price momentum (+2.8% YoY, +1.0% MoM), not inventory.

Demographics

Who lives here

ZIP 92532 (Lake Elsinore, CA) is majority owner-occupied, has a large share of families with children, has a median income above the national average, 33.2% of residents hold a bachelor's degree or higher.

Population

28,055

Median income

$122,312

Median age

34.2

Renters

25.3%

Age distribution

26.9%

24%

29.1%

Under 1826.9%

18–3424%

35–5429.1%

55–648.2%

65+11.7%

Gender

50.6%

49.4%

Male50.6%

Female49.4%

Race & ethnicity

46.6%

37.5%

White46.6%

Black7.9%

Hispanic37.5%

Asian12.1%

Education (25+)

19.4%

36.5%

33.2%

No HS diploma10.9%

HS diploma19.4%

Some college36.5%

Bachelor's+33.2%

Housing tenure

74.7%

25.3%

Owner74.7%

Renter25.3%

Source: U.S. Census Bureau · ACS 2024 5-Year Estimates

2023 vs 2026

How ZIP 92532 in Lake Elsinore, CA has changed in 5 years

Rent

$2,477 → $2,722

up 9.9%

Income

$94,752 → $122,312

up 29.1%

Population

26,840 → 28,055

up 4.5%

Renter share

24.6% → 25.3%

+0.7 pts

Bachelor's+

29.7% → 33.2%

+3.5 pts

Median age

32.2 → 34.2

+2.0 yrs

The median rent in ZIP 92532 in Lake Elsinore, CA stood at $2,477 in 2023 and currently runs about $2,722, reflecting a 9.9% increase over the period. Median household income rose from $94,752 to $122,312 between 2021 and 2024, a 29.1% shift. On paper, paychecks moved up faster than rent, which softens the affordability squeeze versus the 2021 baseline. The population has grown by 4.5% since 2021, moving from about 26,840 residents to roughly 28,055. College-educated residents now make up 33.2% of adults here, versus 29.7% in 2021. Taken together, the five-year picture in ZIP 92532 in Lake Elsinore, CA reflects how housing costs and the people paying them have evolved through a stretch that included a pandemic, a hot rental market, and a recent cooling phase.

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About renting in ZIP 92532

Last updated: October 17, 2026

ZIP code 92532 covers Lake Elsinore, CA. The median rent here is $2,722/mo as of October 2026. A 1-bedroom rents for a median of $2,460/mo. A 2-bedroom rents for a median of $3,050/mo.

At 27% of local median household income ($122,312/yr), ZIP 92532 ranks as affordable compared to the national benchmark of 30%. Rents have increased 2.8% over the past year.

FAQ

Frequently asked questions

How much income do you need to rent in ZIP 92532?

To keep rent at or below 30% of gross income, you would need to earn at least $109,000/year (about $52/hour full-time) to afford the median rent of $2,722/mo in ZIP 92532. The local median household income is $122,312/yr, so the typical household meets that bar.

Is rent going up or down in ZIP 92532?

Rent in ZIP 92532 has risen 2.8% over the past year as of September 2026. It sits 0.4% below its high of $2,734 in January 2025.

How does ZIP 92532 compare to other ZIPs in California?

ZIP 92532 is in the middle among California ZIP codes for rent, ranking #495 of 898 at $2,722/mo. Over the year to September 2026, rent in ZIP 92532 changed +2.8%, against a typical +3.2% across the 819 California ZIP codes Zillow tracks.