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 12,000 people, 4,328 houses or apartments, and a median cost of homes of $314,352, Fortuna real estate prices are well above average cost compared to national prices.
Single-family detached homes are the single most common housing type in Fortuna, accounting for 68.45% of the city's housing units. Other types of housing that are prevalent in Fortuna include duplexes, homes converted to apartments or other small apartment buildings ( 11.82%), large apartment complexes or high rise apartments ( 9.94%), and a few mobile homes or trailers ( 5.76%).
The most prevalent building size and type in Fortuna are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 56.81% owning and 43.19% renting.
There is a lot of housing in Fortuna 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 Fortuna built between 1940-1969 ( 34.63%). A lesser amount of the housing stock also hails from before 1939 ( 11.24%). There's also some housing in Fortuna built between 2000 and later ( 10.55%).
Vacant housing appears to be an issue in Fortuna. Fully 11.67% of the housing stock is classified as vacant. Left unchecked, vacant Fortuna homes and apartments can be a drag on the real estate market, holding Fortuna 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.
Fortuna's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Fortuna during the period has been just -1.30%, which is lower than 70% of US communities.
Appreciation rates are so strong in Fortuna that despite a nationwide downturn in the housing market, Fortuna real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Fortuna appreciation rates continue to be some of the highest in America, at 8.08%, which is higher than appreciation rates in 87.14% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Fortuna. Fortuna appreciation rates in the latest quarter were at 1.82%, which equates to an annual appreciation rate of 7.47%.
Importantly, this makes Fortuna 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 Fortuna's latest annual appreciation rate is higher than 50% of the other cities and towns in California.
|$894,001 - $1,191,000||3.8|
|$596,001 - $894,000||4.6|
|$476,001 - $596,000||6.4|
|$357,001 - $476,000||17.4|
|$238,001 - $357,000||41.8|
|$119,001 - $238,000||14.4|
|$60,001 - $119,000||3.9|
|$0 - $60,000||7.1|
|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 Fortuna HOMES|
|2000 or Newer||10.6|
|1970 - 1999||43.6|
|1940 - 1969||34.6|
|1939 or Older||11.2|
|TYPE OF Fortuna HOMES|
|Small Apt. Buildings||11.8|
|SIZE OF Fortuna HOMES|
|5 or more bedrooms||0.92|