Reverse mortgages in Long Beach
If you own a home in Long Beach and are 62 or older, a HECM reverse mortgage can turn part of your equity into cash without a monthly mortgage payment. Whether it makes sense here comes down to a few local facts, starting with who lives here and what homes are worth.
| Measure | Long Beach | California | U.S. |
|---|---|---|---|
| Residents 65 and older | 13.5% | 17.5% | 18.9% |
| Owner-occupied homes | 41.2% | 55.9% | 65.2% |
| Median home value | $806,600 | $734,700 | $332,700 |
| Monthly owner costs, no mortgage | $712 | $829 | $638 |
| Monthly owner costs, with mortgage | $2,984 | $2,946 | $1,963 |
| Median household income | $87,430 | $99,122 | $80,734 |
| Veterans | 13,029 | 1,305,453 | 16,185,883 |
Monthly owner costs are medians and include taxes, insurance, utilities and any mortgage. The Census reports these up to $4,000.
If your Long Beach home is a condo
Condos can qualify for a HECM, but the building is reviewed along with you. It needs FHA approval or a single-unit approval, and association finances, insurance and any lawsuits can matter.
Non-FHA reverse products exist for some condos that fail the project review, but their rules vary by state. We check FHA eligibility first.
Paying off the mortgage with a reverse loan in Long Beach
For many retirees, the real job of a HECM is getting rid of an existing payment. In Los Angeles County, the median owner with a mortgage spends $2,984 a month on housing, and the median owner without one spends $712.
Your existing loan is paid off at closing from the HECM or your own funds. If the payoff takes up most of the available proceeds, you may have little cash left over, so we run that number first.
Home prices around Long Beach
The latest FHFA reading has the Los Angeles-Long Beach metro area at +1.2% year over year. The longer view is +31.9% since 2021. Compared with the +17.3% statewide five-year figure, that is faster than the state.
If your home tracked the index, a value of $806,600 today means about $610,000 five years ago. That $200,000 difference is what makes a reverse loan possible for owners who thought they had little to work with.
With prices moving slowly, do not plan around future gains. Build the plan on what the home is worth today and on how quickly the balance would grow.
A renter-heavy city changes the conversation
With 41.2% owner-occupancy, Long Beach has far more renters than the national 65.2% owner rate would suggest. Owners here have something scarce, and rent is the number to beat if you are thinking about selling instead.
Compare the reverse loan against what it would cost to rent locally. A sale gives you all your equity, but it also starts a monthly rent bill for the rest of your life.
Could you carry $712 a month in Long Beach?
That is the median monthly cost for Long Beach owners with no mortgage at all, and those costs continue for as long as you hold a reverse loan.
We budget them before we talk about proceeds. A lender will too: it verifies income and subtracts expenses to see what is left each month, and if that falls short, it may require funds to be set aside.
Property tax help in Los Angeles County
With monthly no-mortgage costs of $712 here, tax relief is worth checking first. California's Property Tax Postponement program lets homeowners 62 or older (or blind or disabled) defer current property taxes at 5 percent simple interest with household income of $55,181 or less and at least 40 percent equity. Funding is limited and first come, first served. Because a reverse loan reduces equity over time, check this program first. See the full California reverse mortgage guide.
The rules in brief
Before any Los Angeles County application moves forward, you meet with a HUD-approved counselor (1-800-569-4287). Every borrower must be at least 62, and the home has to stay your principal residence, because moving out, selling or the last borrower's death ends the loan. The reverse mortgage guide has the details, and our Long Beach mortgage page and HELOC page cover the alternatives.
More in California: Los Angeles, San Jose, Irvine, Riverside, Stockton, Santa Ana.
Sources: U.S. Census Bureau QuickFacts (American Community Survey 2020-2024, population estimates July 2025). FHFA House Price Index, 2026 Q2. HUD 2026 HECM limit.
Common questions
Can I get a reverse mortgage on my Long Beach home?
If every borrower is 62 or older, the home in Los Angeles County is your principal residence, you have enough equity, and you pass the HUD counseling and financial assessment, generally yes. The property must meet FHA standards.
Does the HECM limit matter for a Long Beach home?
Most are comfortably under it. The 2026 limit is $1,249,125, and the Long Beach median is $806,600, so proceeds are driven by your age, the appraisal and rates rather than the cap.
How much have home values risen near Long Beach?
FHFA shows Los Angeles-Long Beach metro at +1.2% over one year and +31.9% over five years as of the second quarter of 2026.
Who still pays the Los Angeles County property tax bill?
It stays with you. If the assessment shows a risk, a lender may set aside loan funds to pay it, which lowers the cash you can draw.
Bayview Residential is a mortgage broker and is not affiliated with HUD or FHA. A reverse mortgage is a loan that must be repaid, and the balance grows over time. You must keep paying property taxes, insurance and home maintenance, and live in the home as your principal residence. All loans are subject to eligibility and approval. This page is general information and not legal, tax or benefits advice.