Lemon Grove appreciation rates and housing market information

Lemon Grove housing market information

With 24,954 people, 8,767 houses or apartments, and a median cost of homes of $337,223, real estate costs in Lemon Grove are among some of the highest in the nation, although house prices here don't compare to real estate prices in the most expensive California communities.

single-family detached homes are the single most common housing type in Lemon Grove, accounting for 65.88% of the city's housing units. Other types of housing that are prevalent in Lemon Grove include large apartment complexes or high rise apartments (16.86%), row houses and other attached homes (8.18%), duplexes, homes converted to apartments, or other small apartment buildings (7.96%), and a few mobile homes or trailers (1.06%).

People in Lemon Grove primarily live in small (one, two, or no bedroom) single-family detached homes. Lemon Grove 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. Lemon Grove's housing was primarily built during this period, from the '40s through the '60s. A full 56.77% of the city's housing hails from this era. Other housing ages represented in Lemon Grove include homes built between 1970-1994 (36.35%), and housing constructed from 1939 and earlier (4.38%). There's also some housing in Lemon Grove built between 1995 and later (2.50%).

Lemon Grove home appreciation rates

Appreciation rates for homes in Lemon Grove have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 98.85%, which ranks in the top 20% nationwide. This equates to an annual average Lemon Grove house appreciation rate of 9.88%.

Over the last year, Lemon Grove appreciation rates have trailed the rest of the nation. In the last twelve months, Lemon Grove's appreciation rate has been -13.89%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Lemon Grove were at 0.05%, which equates to an annual appreciation rate of 0.20%.

Relative to California, our data show that Lemon Grove's latest annual appreciation rate is higher than 61% 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 Lemon Grove differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Lemon Grove - 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 Lemon Grove real estate investment or home purchase decisions.