Cerritos, CA
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
Lowest

Highest Appreciating Cerritos Neighborhoods Since 2000




Cerritos, 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 Q1 2017. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2015 (latest available). Updated annually.

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

Cerritos Housing Market Information

With a population of 49,975, 15,038 total housing units (homes and apartments), and a median house value of $737,987, real estate costs in Cerritos 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.

Cerritos is a city of large, single-family homes. In fact, there is a higher proportion of four, five or more bedroom homes in Cerritos than is found in 98% of the communities in America.

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Cerritos. Owner-occupied housing accounts for 78.85% of Cerritos's homes, and 79.33% have either three or four bedrooms, which is average sized relative to America.

There is a lot of housing in Cerritos 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 Cerritos built between 1940-1969 ( 30.04%). A lesser amount of the housing stock also hails from between 2000 and later ( 2.26%).

Cerritos Home Appreciation Rates

Appreciation rates for homes in Cerritos have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 0.39%, which ranks in the top 50% nationwide. This equates to an annual average Cerritos house appreciation rate of 0.04%.

NeighborhoodScout's data show that during the latest twelve months, Cerritos's appreciation rate, at 5.22%, has been at or slightly above the national average. In the latest quarter, Cerritos's appreciation rate has been 1.99%, which annualizes to a rate of 8.20%.

Importantly, this makes Cerritos 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 Cerritos's latest annual appreciation rate is lower than 80% 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 Cerritos differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Cerritos - 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 Cerritos real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$737,987

Cerritos, CA HOME PRICES

Value Range
> $1,205,000 1.9
$904,001 - $1,205,000 11.9
$603,001 - $904,000 62.4
$482,001 - $603,000 11.5
$362,001 - $482,000 5.0
$241,001 - $362,000 3.5
$121,001 - $241,000 1.8
$60,001 - $121,000 0.9
$0 - $60,000 1.1

High for CA
Very High for Nation

Value Relative to Nation Value Relative to State
2.37899917965546 21.5608465608466

Number Of Homes And Apartments:
15,038

Cerritos Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
CA*
Compared To
America*
Latest Quarter:
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
Since 2000:
2000 Q1 - 2017 Q1
122.83% 4.75% 9 10
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$2,912 / per month

Homeownership Rate

Homeownership
Owners 78.85
Renters 21.15
Vacant 4.06

Housing Market Details

 

Age of Homes

AGE OF Cerritos HOMES
2000 or Newer 2.3
1970 - 1999 67.2
1940 - 1969 30.0
1939 or Older 0.5

Types of Homes

TYPE OF Cerritos HOMES
Single-Family 84.6
Townhomes 7.1
Small Apt. Buildings 3.3
Apt. Complexes 4.4
Mobile Homes 0.6
Other 0.0

Home Size

SIZE OF Cerritos HOMES
No Bedroom 2.19
1 Bedroom 1.98
2 Bedrooms 7.15
3 Bedrooms 35.00
4 Bedrooms 44.33
5 or more bedrooms 9.34