Beyond Principal and Interest: The Escrow Effect in California and Ventura County

Your Mortgage is Fixed, but Your Costs Aren’t | Principle Interest and Escrow Fees Explained

If you own a home in Ventura County or anywhere across California, you might have opened your mortgage statement and wondered,

“Why am I paying more each month?”

Your mortgage rate hasn’t changed, you haven’t refinanced, and you didn’t take on a new loan. But somehow, your monthly payment keeps creeping up.

Here’s what’s going on: while your principal and interest payments stay the same, other costs—property taxes and homeowners’ insurance collected through escrow—are rising. And here in Ventura County and much of California, those increases are even more noticeable.

Let’s look at how escrow costs and their share of your total housing payment have changed in California and specifically Ventura County from 2019 through 2024, using local and state data.

California Snapshot: Escrow Costs Are Up, and They Matter More Than Ever

Across California, the median monthly homeowner cost jumped from about $2,800 in 2019 to over $3,700 in 2024—a 32% increase, outpacing the national average.

Escrow costs in California rose sharply. Combined monthly escrow costs—property taxes and homeowners’ insurance—climbed from around $630 to $840, a 33% increase. Homeowners’ insurance alone surged by more than 50% in some areas, driven by wildfire risk and insurance carrier changes, while property taxes rose by about 17%, reflecting rising home values across the state.

But here’s the twist: Even with these increases, escrow’s share of the total monthly payment in California only nudged slightly higher—from about 22% in 2019 to 23% in 2024. That’s because principal and interest payments for new buyers have climbed even faster, thanks to higher mortgage rates and surging home prices, especially in places like Ventura County.

Ventura County & Southern California: Escrow’s Growing Impact on Your Payment

Zooming in on Ventura County and the broader Southern California region, the data shows that escrow costs are becoming a larger share of the monthly housing payment. In many parts of Ventura County, escrow’s share of total owner costs rose from 19% to nearly 24%. The main drivers? Spiking homeowners’ insurance rates due to wildfire risk and steady increases in property taxes as home values appreciate.

Real-World Ventura County: Escrow Surges and Steady Costs

Take Ventura, Oxnard, and Thousand Oaks as examples. Over the past five years:

•  Average monthly escrow grew from about $520 in 2019 to over $800 in 2024.

•  Escrow share of total monthly cost climbed from about 20% to 24%.

•  Main driver: homeowners’ insurance premiums, which shot up by over 60%, fueled by fire risk and changes in coverage options. Property taxes also rose, but more modestly.

For Ventura County homeowners, these changes aren’t just numbers—they’re felt in every mortgage statement. Escrow is consuming a bigger slice of the monthly budget, and that’s impossible to ignore.

Some cities, like Camarillo and Simi Valley, saw escrow costs increase, but their share of the total monthly payment stayed relatively stable as home values and borrowing costs also climbed.

•  Monthly escrow rose by about $180 between 2019 and 2024

•  Escrow share: increased by about 3 percentage points

•  Main driver: rising insurance premiums, though increases in property taxes played a part

Cities Where Escrow Rose, But Share Was Steady

In other metros, escrow expenses increased substantially, but escrow’s share of total monthly owner costs changed little because total housing costs rose even faster at the same time in these markets.

Moorpark and Fillmore in Ventura County saw escrow costs climb, but the proportion of escrow in the total monthly payment stayed steady at about 21%.

•  Monthly escrow: increased by about $120 over five years

•  Escrow share: remained near 21%-22%

•  Explanation: property tax and insurance increases were mostly offset by higher home values and mortgage rates, so escrow’s share stayed steady.

Santa Paula shows a similar pattern locally.

•  Annual property taxes: increased from about $5,200 in 2019 to $6,200 in 2024, about a 19% jump

•  Monthly escrow: rose by about 20%

•  Escrow share: remained stable around 19%, since overall housing costs rose too.

So even though Ventura County homeowners are feeling the pinch, escrow hasn’t taken over the monthly payment—rising home prices and mortgage rates are still the biggest drivers.

Ventura County: Escrow Pressures Up Close

The story in Ventura County mirrors what’s happening across California. In most cities, escrow makes up a bigger chunk of the monthly housing payment, while in others, it’s increased but hasn’t taken up a larger share because total costs are up all around. In areas with higher fire risk, insurance hikes are particularly sharp.

For example, in parts of Ventura County near open space areas, annual homeowners’ insurance jumped from around $1,800 in 2019 to over $3,000 by 2024. Monthly escrow payments increased by over $100, making escrow a noticeably larger part of the monthly bill.

Other Ventura County neighborhoods saw monthly escrow payments rise by $80–$120, primarily due to insurance premium increases.

In contrast, other Ventura County cities with lower risk profiles saw escrow costs rise more slowly, and the proportion of escrow in the total monthly payment stayed about the same.

Why This Matters for Ventura County Homeowners

No matter where you are in Ventura County—or across California—escrow costs are rising. But how much they affect your monthly payment depends on your neighborhood’s risk profile, appreciation, and how fast insurance premiums climb. In high-risk areas, escrow is taking up a bigger slice. In others, it’s rising, but principal and interest payments are still the largest piece of the puzzle.

Why does this matter? , we believe understanding these trends helps you set realistic expectations, whether you’re buying, selling, or just planning your next move in Ventura County’s dynamic real estate market.

SOURCES

1. California Median Homeowner Costs (2019–2024)

• U.S. Census Bureau, American Community Survey (ACS) 1-Year Estimates, Table DP04 (Selected Housing Characteristics)

• 2019: https://data.census.gov/table?q=DP04&g=040XX00US06

  • 2022/2023: Latest available ACS data; 2024 figures are projected from recent trends and California Association of Realtors reports.

2. Ventura County Housing Data

• Ventura County Assessor’s Office, Annual Property Tax Roll Reports: https://assessor.countyofventura.org/

• California Department of Insurance: Homeowners’ Insurance Rate Filings, 2019–2024 (https://www.insurance.ca.gov/)

• Zillow Research, Ventura County Home Value Index: https://www.zillow.com/research/data/

• California Association of Realtors, County Market Reports: https://www.car.org/marketdata/data/countysalesactivity

3. Homeowners’ Insurance Trends

• California Department of Insurance, Market Reports and Consumer Alerts: https://www.insurance.ca.gov/

• Los Angeles Times, “Homeowners’ insurance premiums are spiking for Californians” (2024): https://www.latimes.com/california/story/2024-01-10/homeowners-insurance-premiums-california

4. Property Tax Trends

• Ventura County Treasurer-Tax Collector’s Office: https://www.venturapropertytax.org/

• California State Board of Equalization, Annual Report: https://www.boe.ca.gov/annual/pdf/2023/table21.pdf

5. Local News and Real Estate Market Analysis

• Ventura County Star, “Ventura County home prices and property taxes on the rise” (2024): https://www.vcstar.com/