Eureka appreciation rates and housing market information

Eureka housing market information

With 25,929 people, 11,594 houses or apartments, and a median cost of homes of $243,972, Eureka real estate prices are well above average cost compared to national prices.

single-family detached homes are the single most common housing type in Eureka, accounting for 61.90% of the city's housing units. Other types of housing that are prevalent in Eureka include duplexes, homes converted to apartments, or other small apartment buildings (18.85%), large apartment complexes or high rise apartments (14.48%), row houses and other attached homes (3.28%), and a few mobile homes or trailers (1.28%).

People in Eureka primarily live in small (one, two, or no bedroom) single-family detached homes. Eureka has a mixture of owner-occupied and renter-occupied housing.

At the end of World War II, American soldiers returned home triumphant and, with the help of the GI Bill, built homes by the millions on the edges of America's cities. These homes were predominantly capes and ranches, modest in size, but built to house a growing middle-class as the 20th century became the American century. Eureka's housing was primarily built during this period, from the '40s through the '60s. A full 45.98% of the city's housing hails from this era. Other housing ages represented in Eureka include homes built between 1939 and earlier (33.28%), and housing constructed from 1970-1994 (18.12%). There's also some housing in Eureka built between 1995 and later (2.62%).

Eureka home appreciation rates

In the last 10 years, Eureka has experienced some of the highest home appreciation rates of any community in the nation. Eureka real estate appreciated 154.09% over the last ten years, which is an average annual home appreciation rate of 15.40%, putting Eureka in the top 10% nationally for real estate appreciation. If you are a home buyer or real estate investor, Eureka definitely has a track record of being one of the best long term real estate investments in America through the last ten years.

Over the last year, Eureka appreciation rates have trailed the rest of the nation. In the last twelve months, Eureka's appreciation rate has been -5.53%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Eureka were at 0.80%, which equates to an annual appreciation rate of 3.20%.

Relative to California, our data show that Eureka's latest annual appreciation rate is higher than 89% of the other cities and towns in California.

One very important thing to keep in mind is that these are average appreciation rates for the city. Individual neighborhoods within Eureka differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Eureka - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 1990, to assist you in making the best Eureka real estate investment or home purchase decisions.