Hollywood appreciation rates and housing market information

Hollywood housing market information

With a population of 139,261, 68,413 total housing units (homes and apartments), and a median house value of $213,306, Hollywood real estate prices are well above average cost compared to national prices.

single-family detached homes are the single most common housing type in Hollywood, accounting for 43.49% of the city's housing units. Other types of housing that are prevalent in Hollywood include large apartment complexes or high rise apartments (40.77%), duplexes, homes converted to apartments, or other small apartment buildings (8.68%), row houses and other attached homes (5.18%), and a few mobile homes or trailers (1.82%).

People in Hollywood primarily live in small (one, two, or no bedroom) single-family detached homes. Hollywood 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. Hollywood's housing was primarily built during this period, from the '40s through the '60s. A full 52.36% of the city's housing hails from this era. Other housing ages represented in Hollywood include homes built between 1970-1994 (39.68%), and housing constructed from 1995 and later (5.17%). There's also some housing in Hollywood built between 1939 and earlier (2.79%).

Vacant housing appears to be an issue in Hollywood. Fully 12.84% of the housing stock is classified as vacant. Left unchecked, vacant Hollywood homes and apartments can be a drag on the real estate market, holding Hollywood real estate prices below levels they could achieve if vacant housing was absorbed into the market and became occupied. Housing vacancy rates are a useful measure to consider, along with other things, if you are a home buyer or a real estate investor.

Hollywood home appreciation rates

Appreciation rates for homes in Hollywood have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 100.03%, which ranks in the top 20% nationwide. This equates to an annual average Hollywood house appreciation rate of 10.00%.

Over the last year, Hollywood appreciation rates have trailed the rest of the nation. In the last twelve months, Hollywood's appreciation rate has been -23.15%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Hollywood were at -1.96%, which equates to an annual appreciation rate of -7.84%.

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

Relative to Florida, our data show that Hollywood's latest annual appreciation rate is higher than 7% of the other cities and towns in Florida.

One very important thing to keep in mind is that these are average appreciation rates for the city. Individual neighborhoods within Hollywood differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Hollywood - 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 Hollywood real estate investment or home purchase decisions.