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
With 11,080 people, 4,108 houses or apartments, and a median cost of homes of $515,887, real estate costs in Canyon Lake are among some of the highest in the nation, although house prices here don't compare to real estate prices in the most expensive California communities.
Single-family detached homes are the single most common housing type in Canyon Lake, accounting for 92.97% of the city's housing units. Other types of housing that are prevalent in Canyon Lake include row houses and other attached homes ( 2.54%), large apartment complexes or high rise apartments ( 2.13%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 1.08%).
Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Canyon Lake. Owner-occupied housing accounts for 84.87% of Canyon Lake's homes, and 79.90% have either three or four bedrooms, which is average sized relative to America.
There is a lot of housing in Canyon Lake 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 Canyon Lake built between 2000 and later ( 11.63%). A lesser amount of the housing stock also hails from between 1940-1969 ( 3.54%).
Vacant housing appears to be an issue in Canyon Lake. Fully 14.35% of the housing stock is classified as vacant. Left unchecked, vacant Canyon Lake homes and apartments can be a drag on the real estate market, holding Canyon Lake 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.
Canyon Lake's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Canyon Lake during the period has been just -1.70%, which is lower than 80% of US communities.
Appreciation rates are so strong in Canyon Lake that despite a nationwide downturn in the housing market, Canyon Lake real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Canyon Lake appreciation rates continue to be some of the highest in America, at 8.03%, which is higher than appreciation rates in 86.87% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Canyon Lake. Canyon Lake appreciation rates in the latest quarter were at 2.02%, which equates to an annual appreciation rate of 8.32%.
Importantly, this makes Canyon Lake one of the highest appreciating communities in the nation for the latest quarter, and may signal the city's near-future real estate investment strength.
Relative to California, our data show that Canyon Lake's latest annual appreciation rate is higher than 50% of the other cities and towns in California.
|$1,121,001 - $1,495,000||4.7|
|$747,001 - $1,121,000||13.4|
|$598,001 - $747,000||13.1|
|$448,001 - $598,000||22.8|
|$299,001 - $448,000||25.1|
|$149,001 - $299,000||14.0|
|$75,001 - $149,000||3.9|
|$0 - $75,000||2.5|
|Value Relative to Nation||Value Relative to State|
|Time Period||Total Appreciation||Avg. Annual Rate||
2016 Q4 - 2017 Q1
Last 12 Months:
2016 Q1 - 2017 Q1
Last 2 Years:
2015 Q1 - 2017 Q1
Last 5 Years:
2012 Q1 - 2017 Q1
Last 10 Years:
2007 Q1 - 2017 Q1
2000 Q1 - 2017 Q1
|* 10 is highest|
|AGE OF Canyon Lake HOMES|
|2000 or Newer||11.6|
|1970 - 1999||84.6|
|1940 - 1969||3.5|
|1939 or Older||0.2|
|TYPE OF Canyon Lake HOMES|
|Small Apt. Buildings||1.1|
|SIZE OF Canyon Lake HOMES|
|5 or more bedrooms||12.09|