Hermosa Beach appreciation rates and housing market information

Hermosa Beach housing market information

With 18,442 people, 9,813 houses or apartments, and a median cost of homes of $1,166,195, Hermosa Beach house prices are not only among the most expensive in California, Hermosa Beach real estate also is some of the most expensive in all of America.

single-family detached homes are the single most common housing type in Hermosa Beach, accounting for 41.01% of the city's housing units. Other types of housing that are prevalent in Hermosa Beach include large apartment complexes or high rise apartments (26.06%), duplexes, homes converted to apartments, or other small apartment buildings (22.08%), row houses and other attached homes (10.02%), and a few mobile homes or trailers (0.75%).

People in Hermosa Beach primarily live in small (one, two, or no bedroom) single-family detached homes. Hermosa Beach 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. Hermosa Beach's housing was primarily built during this period, from the '40s through the '60s. A full 47.57% of the city's housing hails from this era. Other housing ages represented in Hermosa Beach include homes built between 1970-1994 (33.58%), and housing constructed from 1939 and earlier (16.02%). There's also some housing in Hermosa Beach built between 1995 and later (2.83%).

Hermosa Beach home appreciation rates

In the last 10 years, Hermosa Beach has experienced some of the highest home appreciation rates of any community in the nation. Hermosa Beach real estate appreciated 137.19% over the last ten years, which is an average annual home appreciation rate of 13.71%, putting Hermosa Beach in the top 10% nationally for real estate appreciation. If you are a home buyer or real estate investor, Hermosa Beach 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, Hermosa Beach appreciation rates have trailed the rest of the nation. In the last twelve months, Hermosa Beach's appreciation rate has been -14.47%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Hermosa Beach were at -0.58%, which equates to an annual appreciation rate of -2.32%.

Notably, Hermosa Beach's appreciation rate in the latest quarter is one of the lowest in America.

Relative to California, our data show that Hermosa Beach's latest annual appreciation rate is higher than 55% of the other cities and towns in California.