Eureka, 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 Q4 2020. 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

Eureka, CA Housing Market Trends

With a population of 26,710, 11,606 total housing units (homes and apartments), and a median house value of $325,474, Eureka real estate prices are well above average cost compared to national prices.

Single-family detached homes are the single most common housing type in Eureka, accounting for 59.45% of the city's housing units. Other types of housing that are prevalent in Eureka include duplexes, homes converted to apartments or other small apartment buildings ( 19.31%), large apartment complexes or high rise apartments ( 13.32%), and a few row houses and other attached homes ( 6.36%).

People in Eureka primarily live in small (one, two or no bedroom) single-family detached homes. Eureka 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. Eureka's housing was primarily built during this period, from the '40s through the '60s. A full 41.36% of the city's housing hails from this era. Other housing ages represented in Eureka include homes built before 1939 ( 30.84%) and housing constructed between 1970-1999 ( 24.09%). There's also some housing in Eureka built between 2000 and later ( 3.71%).

Vacant housing appears to be an issue in Eureka. Fully 10.15% of the housing stock is classified as vacant. Left unchecked, vacant Eureka homes and apartments can be a drag on the real estate market, holding Eureka real estate prices below levels they could achieve if vacant housing was absorbed into the market and became occupied. Housing vacancy rates are a useful measure to consider, along with other things, if you are a home buyer or a real estate investor.

Eureka Home Appreciation Rates

Appreciation rates for homes in Eureka have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 40.88%, which ranks in the top 40% nationwide. This equates to an annual average Eureka house appreciation rate of 3.49%.

Over the last year, Eureka appreciation rates have trailed the rest of the nation. In the last twelve months, Eureka's appreciation rate has been 4.98%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Eureka were at 1.63%, which equates to an annual appreciation rate of 6.70%.

Notably, Eureka's appreciation rate in the latest quarter is one of the lowest in America.

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

Average Home Values

 
info

Median Home Value:
$325,474

Eureka, CA HOME PRICES

> $1,196,000
0.7%
0.7%
$897,001 - $1,196,000
0.9%
0.9%
$598,001 - $897,000
6.9%
6.9%
$478,001 - $598,000
7.4%
7.4%
$359,001 - $478,000
24.1%
24.1%
$239,001 - $359,000
44.0%
44.0%
$120,001 - $239,000
11.9%
11.9%
$60,001 - $120,000
0.5%
0.5%
$0 - $60,000
3.7%
3.7%
0.0% 100.0%
% OF HOMES
Value Relative To State

Very High for Nation

Low for CA

Value Relative To Nation

Number Of Homes And Apartments:
11,606

Eureka Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
CA*
Compared To
America*
Latest Quarter:
2020 Q3 - 2020 Q4
Last 12 Months:
2019 Q4 - 2020 Q4
Last 2 Years:
2018 Q4 - 2020 Q4
Last 5 Years:
2015 Q4 - 2020 Q4
Last 10 Years:
2010 Q4 - 2020 Q4
Since 2000:
2000 Q1 - 2020 Q4
140.96% 4.28%
7
10
* 10 is highest

Rent & Ownership

 
info

Average Market Rent:
$1,231 / per month

Homeownership Rate

Owners
41.4%
41.4%
Renters
58.6%
58.6%
Vacant
10.1%
10.1%
0.0% 100.0%
% OF HOMES

Housing Market Details

 
info

Age of Homes

2000 or Newer
3.7%
3.7%
1970 - 1999
24.1%
24.1%
1940 - 1969
41.4%
41.4%
1939 or Older
30.8%
30.8%
0.0% 100.0%
% OF HOMES

Types of Homes

Single-Family
59.4%
59.4%
Townhomes
6.4%
6.4%
Small Apt. Buildings
19.3%
19.3%
Apt. Complexes
13.3%
13.3%
Mobile Homes
1.4%
1.4%
Other
0.2%
0.2%
0.0% 100.0%
% OF HOMES

Home Size

No Bedroom
5.8%
5.8%
1 Bedroom
19.2%
19.2%
2 Bedrooms
35.9%
35.9%
3 Bedrooms
28.0%
28.0%
4 Bedrooms
8.5%
8.5%
5 or more bedrooms
2.5%
2.5%
0.0% 100.0%
% OF HOMES