Costa Mesa, CA
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Highest Appreciating Costa Mesa Neighborhoods Since 2000




Costa Mesa, 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

Costa Mesa Housing Market Information

With a population of 113,204, 40,908 total housing units (homes and apartments), and a median house value of $737,397, real estate costs in Costa Mesa 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 Costa Mesa, accounting for 38.79% of the city's housing units. Other types of housing that are prevalent in Costa Mesa include large apartment complexes or high rise apartments ( 35.82%), duplexes, homes converted to apartments or other small apartment buildings ( 14.19%), and a few row houses and other attached homes ( 9.24%).

People in Costa Mesa primarily live in small (one, two or no bedroom) single-family detached homes. 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 49.86% of the city's housing hails from this era. Other housing ages represented in Costa Mesa include homes built between 1970-1999 ( 42.16%) and housing constructed between 2000 and later ( 6.39%). There's also some housing in Costa Mesa built before 1939 ( 1.59%).

Costa Mesa Home Appreciation Rates

Appreciation rates for homes in Costa Mesa have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 6.22%, which ranks in the top 40% nationwide. This equates to an annual average Costa Mesa house appreciation rate of 0.61%.

Appreciation rates are so strong in Costa Mesa that despite a nationwide downturn in the housing market, Costa Mesa real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Costa Mesa appreciation rates continue to be some of the highest in America, at 7.58%, which is higher than appreciation rates in 84.57% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Costa Mesa. Costa Mesa appreciation rates in the latest quarter were at 1.99%, which equates to an annual appreciation rate of 8.20%.

Importantly, this makes Costa Mesa 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 Costa Mesa's latest annual appreciation rate is lower 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 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:
$737,397

Costa Mesa, CA HOME PRICES

Value Range
> $1,298,000 6.4
$973,001 - $1,298,000 15.7
$649,001 - $973,000 38.3
$519,001 - $649,000 15.5
$390,001 - $519,000 11.9
$260,001 - $390,000 3.6
$130,001 - $260,000 1.9
$65,001 - $130,000 2.2
$0 - $65,000 4.2

High for CA
Very High for Nation

Value Relative to Nation Value Relative to State
2.38485878354623 21.6931216931217

Number Of Homes And Apartments:
40,908

Costa Mesa 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
146.71% 5.37% 10 10
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$2,055 / per month

Homeownership Rate

Homeownership
Owners 37.55
Renters 62.45
Vacant 4.93

Housing Market Details

 

Age of Homes

AGE OF Costa Mesa HOMES
2000 or Newer 6.4
1970 - 1999 42.2
1940 - 1969 49.9
1939 or Older 1.6

Types of Homes

TYPE OF Costa Mesa HOMES
Single-Family 38.8
Townhomes 9.2
Small Apt. Buildings 14.2
Apt. Complexes 35.8
Mobile Homes 1.9
Other 0.1

Home Size

SIZE OF Costa Mesa HOMES
No Bedroom 4.40
1 Bedroom 19.48
2 Bedrooms 35.11
3 Bedrooms 25.05
4 Bedrooms 13.05
5 or more bedrooms 2.90