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.
Methodology: NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more
With a population of 27,017, 10,683 total housing units (homes and apartments), and a median house value of $268,978, 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 60.16% 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 ( 23.54%), large apartment complexes or high rise apartments ( 12.20%), and a few row houses and other attached homes ( 3.34%).
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 43.82% of the city's housing hails from this era. Other housing ages represented in Eureka include homes built before 1939 ( 32.15%) and housing constructed between 1970-1999 ( 21.39%). There's also some housing in Eureka built between 2000 and later ( 2.63%).
Vacant housing appears to be an issue in Eureka. Fully 11.97% 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's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Eureka during the period has been just -1.35%, which is lower than 80% of US communities.
Appreciation rates are so strong in Eureka that despite a nationwide downturn in the housing market, Eureka real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Eureka appreciation rates continue to be some of the highest in America, at 6.78%, which is higher than appreciation rates in 79.87% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Eureka. Eureka appreciation rates in the latest quarter were at 1.82%, which equates to an annual appreciation rate of 7.47%.
Importantly, this makes Eureka 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 Eureka's latest annual appreciation rate is lower than 60% 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.
|$895,001 - $1,193,000||0.1|
|$597,001 - $895,000||3.7|
|$477,001 - $597,000||5.5|
|$358,001 - $477,000||16.9|
|$239,001 - $358,000||38.3|
|$119,001 - $239,000||30.3|
|$60,001 - $119,000||1.2|
|$0 - $60,000||3.7|
|Value Relative to Nation||Value Relative to State|
|Time Period||Total Appreciation||Avg. Annual Rate||
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
2000 Q1 - 2017 Q1
|* 10 is highest|
|AGE OF Eureka HOMES|
|2000 or Newer||2.6|
|1970 - 1999||21.4|
|1940 - 1969||43.8|
|1939 or Older||32.2|
|TYPE OF Eureka HOMES|
|Small Apt. Buildings||23.5|
|SIZE OF Eureka HOMES|
|5 or more bedrooms||1.09|