Costa Mesa, CA Real Estate Market

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 2021. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2019 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data

Costa Mesa, CA Housing Market Trends

With 113,003 people, 40,986 houses or apartments, and a median cost of homes of $876,482, Costa Mesa house prices are not only among the most expensive in California, Costa Mesa real estate also is some of the most expensive in all of America.

Large apartment complexes or high rise apartments are the single most common housing type in Costa Mesa, accounting for 38.02% of the city's housing units. Other types of housing that are prevalent in Costa Mesa include single-family detached homes ( 37.86%), duplexes, homes converted to apartments or other small apartment buildings ( 12.50%), and a few row houses and other attached homes ( 9.21%). This particular housing mix is relatively uncommon and characteristic of cities that are compact and walkable, and which often have a lively downtown.

People in Costa Mesa primarily live in small (one, two or no bedroom) units, chiefly found in large apartment complexes or high rise apartments. Costa Mesa has a mixture of owner-occupied and renter-occupied housing.

At the end of World War II, American soldiers returned home triumphant and, with the help of the GI Bill, built homes by the millions on the edges of America's cities. These homes were predominantly capes and ranches, modest in size, but built to house a growing middle-class as the 20th century became the American century. Costa Mesa's housing was primarily built during this period, from the '40s through the '60s. A full 47.70% of the city's housing hails from this era. Other housing ages represented in Costa Mesa include homes built between 1970-1999 ( 42.18%) and housing constructed between 2000 and later ( 8.81%). There's also some housing in Costa Mesa built before 1939 ( 1.31%).

Costa Mesa Home Appreciation Rates

In the last 10 years, Costa Mesa has experienced some of the highest home appreciation rates of any community in the nation. Costa Mesa real estate appreciated 81.52% over the last ten years, which is an average annual home appreciation rate of 6.14%, putting Costa Mesa in the top 20% nationally for real estate appreciation. If you are a home buyer or real estate investor, Costa Mesa 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, Costa Mesa appreciation rates have trailed the rest of the nation. In the last twelve months, Costa Mesa's appreciation rate has been 7.30%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Costa Mesa were at 3.12%, which equates to an annual appreciation rate of 13.09%.

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

Average Home Values

 

Median Home Value:
$876,482

Costa Mesa, CA HOME PRICES

> $1,200,000
15.2%
15.2%
$900,001 - $1,200,000
30.0%
30.0%
$600,001 - $900,000
38.1%
38.1%
$480,001 - $600,000
7.7%
7.7%
$360,001 - $480,000
2.6%
2.6%
$240,001 - $360,000
1.0%
1.0%
$120,001 - $240,000
1.2%
1.2%
$60,001 - $120,000
2.8%
2.8%
$0 - $60,000
1.3%
1.3%
0.0% 100.0%
% OF HOMES
Value Relative To State

Very High for Nation

Very High for CA

Value Relative To Nation

Number Of Homes And Apartments:
40,986

Costa Mesa Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
CA*
Compared To
America*
Latest Quarter:
2021 Q1 - 2021 Q2
Last 12 Months:
2020 Q2 - 2021 Q2
Last 2 Years:
2019 Q2 - 2021 Q2
Last 5 Years:
2016 Q2 - 2021 Q2
Last 10 Years:
2011 Q2 - 2021 Q2
Since 2000:
2000 Q1 - 2021 Q2
196.87% 5.19%
10
10
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$2,904 / per month

Homeownership Rate

Owners
37.7%
37.7%
Renters
62.3%
62.3%
Vacant
5.0%
5.0%
0.0% 100.0%
% OF HOMES

Housing Market Details

 

Age of Homes

2000 or Newer
8.8%
8.8%
1970 - 1999
42.2%
42.2%
1940 - 1969
47.7%
47.7%
1939 or Older
1.3%
1.3%
0.0% 100.0%
% OF HOMES

Types of Homes

Single-Family
37.9%
37.9%
Townhomes
9.2%
9.2%
Small Apt. Buildings
12.5%
12.5%
Apt. Complexes
38.0%
38.0%
Mobile Homes
2.2%
2.2%
Other
0.2%
0.2%
0.0% 100.0%
% OF HOMES

Home Size

No Bedroom
4.4%
4.4%
1 Bedroom
18.4%
18.4%
2 Bedrooms
35.9%
35.9%
3 Bedrooms
26.1%
26.1%
4 Bedrooms
12.2%
12.2%
5 or more bedrooms
3.0%
3.0%
0.0% 100.0%
% OF HOMES