Southern California's median home price hits a new record: $520,000

At that rate, April’s median-priced home of $520,000 would carry a $2,781 monthly mortgage payment for buyers who put 20% down. In January, the median-priced home was $507,000 and mortgage rates at the start of the month averaged 3.95%, which would translate to a monthly payment of $2,554 after putting 20% down.