Hanford, CA
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA



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Hanford, 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 2019. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2017 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more

Hanford Housing Market Information

With 56,499 people, 18,185 houses or apartments, and a median cost of homes of $207,115, Hanford real estate values are some of the lowest in California, although compared to real estate around the nation, Hanford homes are still considered rather expensive.

Single-family detached homes are the single most common housing type in Hanford, accounting for 74.03% of the city's housing units. Other types of housing that are prevalent in Hanford include large apartment complexes or high rise apartments ( 11.89%), duplexes, homes converted to apartments or other small apartment buildings ( 10.57%), and a few mobile homes or trailers ( 2.13%).

The most prevalent building size and type in Hanford are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 56.00% owning and 44.00% renting.

There is a lot of housing in Hanford 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 Hanford built between 1940-1969 ( 24.96%). A lesser amount of the housing stock also hails from between 2000 and later ( 20.30%). There's also some housing in Hanford built before 1939 ( 6.66%).

Hanford Home Appreciation Rates

Appreciation rates for homes in Hanford have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 19.59%, which ranks in the top 40% nationwide. This equates to an annual average Hanford house appreciation rate of 1.81%.

Appreciation rates are so strong in Hanford that despite a nationwide downturn in the housing market, Hanford real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Hanford appreciation rates continue to be some of the highest in America, at 7.17%, which is higher than appreciation rates in 76.41% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Hanford. Hanford appreciation rates in the latest quarter were at 1.73%, which equates to an annual appreciation rate of 7.09%.

Importantly, this makes Hanford 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 Hanford's latest annual appreciation rate is higher than 80% 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 Hanford differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Hanford - 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 Hanford real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$207,115

Hanford, CA HOME PRICES

Value Range
> $1,257,000 0.6
$943,001 - $1,257,000 0.3
$628,001 - $943,000 1.4
$503,001 - $628,000 1.5
$377,001 - $503,000 8.9
$251,001 - $377,000 34.4
$126,001 - $251,000 41.2
$63,001 - $126,000 6.9
$0 - $63,000 4.8

Very Low for CA
High for Nation

Value Relative to Nation Value Relative to State
35.7722627737226 89.1218872870249

Number Of Homes And Apartments:
18,185

Hanford Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
CA*
Compared To
America*
Latest Quarter:
2018 Q4 - 2019 Q1
Last 12 Months:
2018 Q1 - 2019 Q1
Last 2 Years:
2017 Q1 - 2019 Q1
Last 5 Years:
2014 Q1 - 2019 Q1
Last 10 Years:
2009 Q1 - 2019 Q1
Since 2000:
2000 Q1 - 2019 Q1
94.71% 3.52%
4
9
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,650 / per month

Homeownership Rate

Homeownership
Owners 56.00
Renters 44.00
Vacant 6.08

Housing Market Details

 

Age of Homes

AGE OF Hanford HOMES
2000 or Newer 20.3
1970 - 1999 48.1
1940 - 1969 25.0
1939 or Older 6.7

Types of Homes

TYPE OF Hanford HOMES
Single-Family 74.0
Townhomes 1.4
Small Apt. Buildings 10.6
Apt. Complexes 11.9
Mobile Homes 2.1
Other 0.0

Home Size

SIZE OF Hanford HOMES
No Bedroom 2.98
1 Bedroom 7.34
2 Bedrooms 21.97
3 Bedrooms 49.53
4 Bedrooms 14.76
5 or more bedrooms 3.41