Paradise appreciation rates and housing market information

Paradise housing market information

With 185,832 people, 85,538 houses or apartments, and a median cost of homes of $219,551, Paradise real estate prices are well above average cost compared to national prices.

large apartment complexes or high rise apartments are the single most common housing type in Paradise, accounting for 43.55% of the town's housing units. Other types of housing that are prevalent in Paradise include single-family detached homes (35.74%), duplexes, homes converted to apartments, or other small apartment buildings (10.61%), row houses and other attached homes (6.97%), and a few mobile homes or trailers (2.92%). Towns that are predominantly high-density buildings are relatively uncommon in the US. Because of the density, these types of towns are often walkable and compact, and often have a lively downtown.

People in Paradise primarily live in small (one, two, or no bedroom) units, chiefly found in large apartment complexes or high rise apartments. Paradise has a mixture of owner-occupied and renter-occupied housing.

There is a lot of housing in Paradise 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 Paradise built from 1995 and later (18.48%). A lesser amount of the housing stock also hails from 1940-1969 (13.17%), and some were built from 1939 and earlier (13.17%).

Paradise home appreciation rates

Paradise's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Paradise during the period has been just 4.87%, which is lower than % of US communities.

Over the last year, Paradise appreciation rates have trailed the rest of the nation. In the last twelve months, Paradise's appreciation rate has been -28.68%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Paradise were at -1.42%, which equates to an annual appreciation rate of -5.68%.

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

Relative to Nevada, our data show that Paradise's latest annual appreciation rate is higher than 5% of the other cities and towns in Nevada.

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