Corona, CA
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
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Highest Appreciating Corona Neighborhoods Since 2000




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 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

Corona Housing Market Information

With 164,226 people, 48,156 houses or apartments, and a median cost of homes of $426,114, 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 68.32% of the city's housing units. Other types of housing that are prevalent in Corona include large apartment complexes or high rise apartments ( 18.02%), duplexes, homes converted to apartments or other small apartment buildings ( 5.56%), and a few row houses and other attached homes ( 4.70%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Corona. Owner-occupied housing accounts for 65.60% of Corona's homes, and 60.69% have either three or four bedrooms, which is average sized relative to America.

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 ( 18.89%). A lesser amount of the housing stock also hails from between 1940-1969 ( 13.36%). There's also some housing in Corona built before 1939 ( 1.87%).

Corona Home Appreciation Rates

Corona's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Corona during the period has been just -1.73%, which is lower than 80% of US communities.

Appreciation rates are so strong in Corona that despite a nationwide downturn in the housing market, Corona real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Corona appreciation rates continue to be some of the highest in America, at 6.44%, which is higher than appreciation rates in 77.44% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Corona. Corona appreciation rates in the latest quarter were at 2.02%, which equates to an annual appreciation rate of 8.32%.

Importantly, this makes Corona 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 Corona's latest annual appreciation rate is lower than 70% 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:
$426,114

Corona, CA HOME PRICES

Value Range
> $1,295,000 1.2
$971,001 - $1,295,000 1.2
$647,001 - $971,000 11.7
$518,001 - $647,000 16.8
$388,001 - $518,000 29.0
$259,001 - $388,000 23.8
$130,001 - $259,000 8.6
$65,001 - $130,000 2.2
$0 - $65,000 5.4

Average for CA
Very High for Nation

Value Relative to Nation Value Relative to State
8.30305871323099 50.2645502645503

Number Of Homes And Apartments:
48,156

Corona 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
96.27% 3.99% 7 10
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,935 / per month

Homeownership Rate

Homeownership
Owners 65.60
Renters 34.40
Vacant 4.16

Housing Market Details

 

Age of Homes

AGE OF Corona HOMES
2000 or Newer 18.9
1970 - 1999 65.9
1940 - 1969 13.4
1939 or Older 1.9

Types of Homes

TYPE OF Corona HOMES
Single-Family 68.3
Townhomes 4.7
Small Apt. Buildings 5.6
Apt. Complexes 18.0
Mobile Homes 3.4
Other 0.0

Home Size

SIZE OF Corona HOMES
No Bedroom 1.34
1 Bedroom 8.37
2 Bedrooms 19.80
3 Bedrooms 30.48
4 Bedrooms 30.21
5 or more bedrooms 9.81