Lake Elsinore, California is located in Riverside County just south of Corona and north of Wildomar and Murrieta. The city is home 51,821 residents per the census in 2010. It is home to the the largest natural freshwater lake in Southern California. The average price of a home is $229,544 at about $103.84 per square foot. Of course prices change with different square footages but over all, it enables you to find homes in Lake Elsinore at affordable price ranges.