Corona CA
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA



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Corona, 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 Q2 2020. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2018 (latest available). Updated annually.

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

Corona Housing Market Information

With a population of 168,819, 49,658 total housing units (homes and apartments), and a median house value of $516,104, real estate costs in Corona 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 Corona, accounting for 67.10% of the city's housing units. Other types of housing that are prevalent in Corona include large apartment complexes or high rise apartments ( 18.04%), duplexes, homes converted to apartments or other small apartment buildings ( 5.79%), and a few row houses and other attached homes ( 5.51%).

The most prevalent building size and type in Corona are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 64.27% owning and 35.73% renting.

There is a lot of housing in Corona 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 Corona built between 2000 and later ( 20.90%). A lesser amount of the housing stock also hails from between 1940-1969 ( 13.09%). There's also some housing in Corona built before 1939 ( 2.49%).

Corona Home Appreciation Rates

In the last 10 years, Corona has experienced some of the highest home appreciation rates of any community in the nation. Corona real estate appreciated 74.59% over the last ten years, which is an average annual home appreciation rate of 5.73%, putting Corona in the top 10% nationally for real estate appreciation. If you are a home buyer or real estate investor, Corona 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, Corona appreciation rates have trailed the rest of the nation. In the last twelve months, Corona's appreciation rate has been 3.89%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Corona were at 1.27%, which equates to an annual appreciation rate of 5.19%.

Relative to California, our data show that Corona'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 Corona differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Corona - 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 Corona real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$516,104

Corona, CA HOME PRICES

Value Range
> $1,207,000 1.7
$905,001 - $1,207,000 2.5
$603,001 - $905,000 24.2
$483,001 - $603,000 27.9
$362,001 - $483,000 23.8
$241,001 - $362,000 10.7
$121,001 - $241,000 3.3
$61,001 - $121,000 1.4
$0 - $61,000 4.6

Average for CA
Very High for Nation

Value Relative to Nation Value Relative to State
7.24671532846715 46.002621231979

Number Of Homes And Apartments:
49,658

Corona Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
CA*
Compared To
America*
Latest Quarter:
2020 Q1 - 2020 Q2
Last 12 Months:
2019 Q2 - 2020 Q2
Last 2 Years:
2018 Q2 - 2020 Q2
Last 5 Years:
2015 Q2 - 2020 Q2
Last 10 Years:
2010 Q2 - 2020 Q2
Since 2000:
2000 Q1 - 2020 Q2
127.03% 4.08%
6
10
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$2,332 / per month

Homeownership Rate

Homeownership
Owners 64.27
Renters 35.73
Vacant 3.58

Housing Market Details

 

Age of Homes

AGE OF Corona HOMES
2000 or Newer 20.9
1970 - 1999 63.5
1940 - 1969 13.1
1939 or Older 2.5

Types of Homes

TYPE OF Corona HOMES
Single-Family 67.1
Townhomes 5.5
Small Apt. Buildings 5.8
Apt. Complexes 18.0
Mobile Homes 3.5
Other 0.0

Home Size

SIZE OF Corona HOMES
No Bedroom 1.61
1 Bedroom 7.98
2 Bedrooms 20.22
3 Bedrooms 29.67
4 Bedrooms 30.09
5 or more bedrooms 10.43