Banning CA
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA



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Banning, CA Real Estate Data

Source & Methodology

Analytics built by:   Location, Inc.

Raw data sources:   American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q4 2019. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2018 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more

Banning Housing Market Information

With 31,253 people, 10,885 houses or apartments, and a median cost of homes of $259,707, Banning real estate values are some of the lowest in California, although compared to real estate around the nation, Banning homes are still considered rather expensive.

Single-family detached homes are the single most common housing type in Banning, accounting for 71.85% of the city's housing units. Other types of housing that are prevalent in Banning include mobile homes or trailers ( 10.14%), large apartment complexes or high rise apartments ( 7.11%), and a few row houses and other attached homes ( 5.48%).

People in Banning primarily live in small (one, two or no bedroom) single-family detached homes. Banning has a mixture of owner-occupied and renter-occupied housing.

There is a lot of housing in Banning built from 1970 to 1999 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 Banning built between 1940-1969 ( 26.77%). A lesser amount of the housing stock also hails from between 2000 and later ( 20.11%). There's also some housing in Banning built before 1939 ( 4.26%).

Banning Home Appreciation Rates

In the last 10 years, Banning has experienced some of the highest home appreciation rates of any community in the nation. Banning real estate appreciated 107.71% over the last ten years, which is an average annual home appreciation rate of 7.58%, putting Banning in the top 10% nationally for real estate appreciation. If you are a home buyer or real estate investor, Banning definitely has a track record of being one of the best long term real estate investments in America through the last ten years.

Over the last year, Banning appreciation rates have trailed the rest of the nation. In the last twelve months, Banning's appreciation rate has been 2.57%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Banning were at 0.96%, which equates to an annual appreciation rate of 3.90%.

Relative to California, our data show that Banning's latest annual appreciation rate is higher than 50% 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 Banning differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Banning - 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 2000, to assist you in making the best Banning real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$259,707

Banning, CA HOME PRICES

Value Range
> $1,271,000 1.8
$954,001 - $1,271,000 0.4
$636,001 - $954,000 3.0
$508,001 - $636,000 3.0
$381,001 - $508,000 10.4
$254,001 - $381,000 32.9
$127,001 - $254,000 28.5
$64,001 - $127,000 9.0
$0 - $64,000 10.9

Very Low for CA
High for Nation

Value Relative to Nation Value Relative to State
26.2832116788321 80.9960681520315

Number Of Homes And Apartments:
10,885

Banning Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
CA*
Compared To
America*
Latest Quarter:
2019 Q3 - 2019 Q4
Last 12 Months:
2018 Q4 - 2019 Q4
Last 2 Years:
2017 Q4 - 2019 Q4
Last 5 Years:
2014 Q4 - 2019 Q4
Last 10 Years:
2009 Q4 - 2019 Q4
Since 2000:
2000 Q1 - 2019 Q4
152.08% 4.73%
9
10
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,454 / per month

Homeownership Rate

Homeownership
Owners 61.88
Renters 38.12
Vacant 7.87

Housing Market Details

 

Age of Homes

AGE OF Banning HOMES
2000 or Newer 20.1
1970 - 1999 48.9
1940 - 1969 26.8
1939 or Older 4.3

Types of Homes

TYPE OF Banning HOMES
Single-Family 71.8
Townhomes 5.5
Small Apt. Buildings 5.3
Apt. Complexes 7.1
Mobile Homes 10.1
Other 0.1

Home Size

SIZE OF Banning HOMES
No Bedroom 0.93
1 Bedroom 7.57
2 Bedrooms 50.78
3 Bedrooms 31.37
4 Bedrooms 8.13
5 or more bedrooms 1.22