As I guide clients through properties in the San Gabriel Valley, I've noticed that Korean buyers are visiting West Covina much more frequently than before. Many consider it a balanced area in terms of price range, school districts, and accessibility to the Korean community.

According to Zillow, the current average home value in West Covina is approximately $773,000 as of May 2026. Five years ago, in early 2021, it was around $565,000, indicating an increase of about 37% over the five-year period.

During the same period, the national average increase was around 38-40%. West Covina can be considered a region that has shown a rise similar to or slightly lower than the national average.

Year by year, from 2021 to the first half of 2022, prices rose rapidly due to low interest rates.

However, as interest rate hikes began in the second half of 2022, the upward trend significantly slowed, and by 2023, transaction volumes decreased, leading to a correction phase. Starting in 2024, a gradual recovery was observed, but in the past year, there has been a decline of about 3.2%, continuing the adjustment trend.

The reasons for the price increase in this area include a stable Korean and Asian community in the San Gabriel Valley, good accessibility to downtown LA and Orange County, and a market primarily focused on existing homes, which limits new supply. However, since prices are already high, the potential for further increases has been relatively limited compared to other emerging areas.

The future trend is expected to vary depending on interest rates. If mortgage rates ease, pent-up demand may lead to a rebound, but it is anticipated that any increase will be gradual rather than sharp.

For Korean households looking to live in the area, the current adjustment phase may provide opportunities for negotiation. If considering selling for investment purposes, the local demand is solid, so it is advisable to observe market trends a bit longer before making a hasty decision.