Riverside appreciation rates and housing market information

Riverside housing market information

With a population of 255,093, 86,044 total housing units (homes and apartments), and a median house value of $268,571, Riverside real estate prices are well above average cost compared to national prices.

single-family detached homes are the single most common housing type in Riverside, accounting for 63.37% of the city's housing units. Other types of housing that are prevalent in Riverside include large apartment complexes or high rise apartments (22.31%), duplexes, homes converted to apartments, or other small apartment buildings (6.68%), row houses and other attached homes (4.87%), and a few mobile homes or trailers (2.67%).

The most prevalent building size and type in Riverside are three and four bedroom single-family detached homes. The city has a mixture of owners and renters, with 54.06% owning, and 41.33% renting.

There is a lot of housing in Riverside 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 Riverside built from 1940-1969 (40.52%). A lesser amount of the housing stock also hails from 1939 and earlier (7.04%), and some were built from 1995 and later (7.04%).

Riverside home appreciation rates

Appreciation rates for homes in Riverside have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 80.25%, which ranks in the top 40% nationwide. This equates to an annual average Riverside house appreciation rate of 8.02%.

Over the last year, Riverside appreciation rates have trailed the rest of the nation. In the last twelve months, Riverside's appreciation rate has been -28.00%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Riverside were at 0.93%, which equates to an annual appreciation rate of 3.72%.

Relative to California, our data show that Riverside's latest annual appreciation rate is higher than 10% 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 Riverside differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Riverside - 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 Riverside real estate investment or home purchase decisions.