Lake Elsinore appreciation rates and housing market information

Lake Elsinore housing market information

With 29,290 people, 9,527 houses or apartments, and a median cost of homes of $274,251, Lake Elsinore real estate prices are well above average cost compared to national prices.

single-family detached homes are the single most common housing type in Lake Elsinore, accounting for 65.36% of the city's housing units. Other types of housing that are prevalent in Lake Elsinore include large apartment complexes or high rise apartments (11.56%), duplexes, homes converted to apartments, or other small apartment buildings (7.74%), row houses and other attached homes (7.44%), and a few mobile homes or trailers (6.59%).

Owner-occupied, three and four bedroom single-family detached homes are the most prevalent type of housing you will see in Lake Elsinore. Owner-occupied housing accounts for 60.17% of Lake Elsinore's homes, and 53.22% have either three or four bedrooms, which is average sized relative to America.

There is a lot of housing in Lake Elsinore built from 1970-1994, so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in Lake Elsinore built from 1995 and later (19.28%). A lesser amount of the housing stock also hails from 1940-1969 (16.89%), and some were built from 1939 and earlier (16.89%).

Lake Elsinore home appreciation rates

Appreciation rates for homes in Lake Elsinore have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 84.14%, which ranks in the top 40% nationwide. This equates to an annual average Lake Elsinore house appreciation rate of 8.41%.

Over the last year, Lake Elsinore appreciation rates have trailed the rest of the nation. In the last twelve months, Lake Elsinore's appreciation rate has been -27.61%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Lake Elsinore were at 1.03%, which equates to an annual appreciation rate of 4.12%.

Relative to California, our data show that Lake Elsinore's latest annual appreciation rate is higher than 11% of the other cities and towns in California.