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.
Methodology: NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data
With a population of 31,896, 14,685 total housing units (homes and apartments), and a median house value of $3,938,817, Beverly Hills house prices are not only among the most expensive in California, Beverly Hills real estate also is some of the most expensive in all of America.
Large apartment complexes or high rise apartments are the single most common housing type in Beverly Hills, accounting for 49.17% of the city's housing units. Other types of housing that are prevalent in Beverly Hills include single-family detached homes ( 38.72%), duplexes, homes converted to apartments or other small apartment buildings ( 10.45%), and a few row houses and other attached homes ( 1.39%). Cities with mostly row houses, apartments, and other high density housing types are relatively uncommon, and characteristic of compact cities that frequently have a downtown or other neighborhoods where amenities are within walking distance and a lot of street life can be seen.
People in Beverly Hills primarily live in small (one, two or no bedroom) units, chiefly found in large apartment complexes or high rise apartments. Beverly Hills 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. Beverly Hills's housing was primarily built during this period, from the '40s through the '60s. A full 37.43% of the city's housing hails from this era. Other housing ages represented in Beverly Hills include homes built before 1939 ( 33.45%) and housing constructed between 1970-1999 ( 24.14%). There's also some housing in Beverly Hills built between 2000 and later ( 4.99%).
Vacant housing appears to be an issue in Beverly Hills. Fully 14.96% of the housing stock is classified as vacant. Left unchecked, vacant Beverly Hills homes and apartments can be a drag on the real estate market, holding Beverly Hills 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.
In the last 10 years, Beverly Hills has experienced some of the highest home appreciation rates of any community in the nation. Beverly Hills real estate appreciated 122.33% over the last ten years, which is an average annual home appreciation rate of 8.32%, putting Beverly Hills in the top 20% nationally for real estate appreciation. If you are a home buyer or real estate investor, Beverly Hills definitely has a track record of being one of the best long term real estate investments in America through the last ten years.
NeighborhoodScout's data show that during the latest twelve months, Beverly Hills's appreciation rate, at 14.22%, has been at or slightly above the national average. In the latest quarter, Beverly Hills's appreciation rate has been 4.15%, which annualizes to a rate of 17.68%.
Relative to California, our data show that Beverly Hills's latest annual appreciation rate is lower 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 Beverly Hills differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Beverly Hills - 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 Beverly Hills real estate investment or home purchase decisions.
Very High for Nation
Very High for CA