According to the latest Census Bureau estimates, Riverside County's population was 2.53 million as of July 2024, making it the fourth most populous county in California and the tenth in the nation.
Despite the "California exodus" trend, Riverside County has seen a significant increase of 110,000 residents since April 2020, the largest gain among California counties and the 14th largest in the U.S.
Riverside County's growth since 2020 is nearly three times that of San Joaquin County, which had the second highest population increase at 36,900, followed by neighboring San Bernardino County with 32,600 new residents.
Strengths
For 2025, the Southern California Association of Governments expects the population to grow faster in San Bernardino County than in the coastal counties. San Bernardino County also attracts people from Riverside County, where the median home price is 20% higher.
Weaknesses
Apartment completions in Riverside-San Bernardino ramped up in 2024 (competition for home builders). Four-bedroom apartment completions more than doubled last year, and renters now have more multi-bedroom, luxury options than ever before
Sales
New home sales in the Riverside-San Bernardino-Ontario, CA metropolitan area decreased 19.9% year-over-year to an annualized rate of 9,440 units in March. Over the past 12 months, 1,442 of sales were attached units and 7,998 were detached. Existing home closings for the 12-month period ending in February posted a year-over-year decline of 2.5% to an annualized rate of 44,002 units. Of those, 5,426 were attached units and 34,820 detached.
Prices
The average list price for a new detached home in the Riverside San Bernardino-Ontario, CA region increased 5.7% from 2024 to $652,979 in March, while the average list price for a new attached home increased 2.5% over the same period to $580,217. Homes priced between $550,000 and $650,000 experienced the most closing activity over the past year. The new home affordability ratio for a detached home reached 16.9% in February.
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