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 3,073, 1,397 total housing units (homes and apartments), and a median house value of $326,054, Borrego Springs real estate values are some of the lowest in California, although compared to real estate around the nation, Borrego Springs homes are still considered rather expensive.
Single-family detached homes are the single most common housing type in Borrego Springs, accounting for 68.48% of the town's housing units. Other types of housing that are prevalent in Borrego Springs include mobile homes or trailers ( 19.24%), row houses and other attached homes ( 6.61%), and a few large apartment complexes or high rise apartments ( 4.46%).
Dwellings in Borrego Springs tend to be quite small (one, two, or no bedrooms) and owner occupied. In fact, 62.28% of the homes in Borrego Springs have two or fewer bedrooms.
There is a lot of housing in Borrego Springs 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 Borrego Springs built between 2000 and later ( 24.83%). A lesser amount of the housing stock also hails from between 1940-1969 ( 22.60%).
A decent proportion of the Borrego Springs housing stock is seasonally occupied. That is, homes and condos in Borrego Springs are occupied by people for a portion of the year - mainly for vacation purposes - and then locked up and left unoccupied for the remainder of the year as owners return to their primary residences. This characteristic of the Borrego Springs housing market speaks to its popularity as a vacation location of choice.
Appreciation rates for homes in Borrego Springs have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 89.50%, which ranks in the top 40% nationwide. This equates to an annual average Borrego Springs house appreciation rate of 6.60%.
Over the last year, Borrego Springs appreciation rates have trailed the rest of the nation. In the last twelve months, Borrego Springs's appreciation rate has been 4.46%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Borrego Springs were at -0.44%, which equates to an annual appreciation rate of -1.75%.
Relative to California, our data show that Borrego Springs's latest annual appreciation rate is higher than 80% of the other cities and towns in California.
$326,054
for California
for nation
1,397
$1,782 / per month