Hermosa Beach, 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 Q2 2021. 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

Hermosa Beach, CA Housing Market Trends

With a population of 19,320, 8,956 total housing units (homes and apartments), and a median house value of $1,612,034, Hermosa Beach house prices are not only among the most expensive in California, Hermosa Beach real estate also is some of the most expensive in all of America.

Single-family detached homes are the single most common housing type in Hermosa Beach, accounting for 43.26% of the city's housing units. Other types of housing that are prevalent in Hermosa Beach include large apartment complexes or high rise apartments ( 24.83%), duplexes, homes converted to apartments or other small apartment buildings ( 18.91%), and a few row houses and other attached homes ( 10.63%).

People in Hermosa Beach primarily live in small (one, two or no bedroom) single-family detached homes. Hermosa Beach 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. Hermosa Beach's housing was primarily built during this period, from the '40s through the '60s. A full 39.06% of the city's housing hails from this era. Other housing ages represented in Hermosa Beach include homes built between 1970-1999 ( 38.82%) and housing constructed before 1939 ( 12.16%). There's also some housing in Hermosa Beach built between 2000 and later ( 9.95%).

Vacant housing appears to be an issue in Hermosa Beach. Fully 10.96% of the housing stock is classified as vacant. Left unchecked, vacant Hermosa Beach homes and apartments can be a drag on the real estate market, holding Hermosa Beach 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.

Hermosa Beach Home Appreciation Rates

Appreciation rates for homes in Hermosa Beach have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 49.57%, which ranks in the top 40% nationwide. This equates to an annual average Hermosa Beach house appreciation rate of 4.11%.

Over the last year, Hermosa Beach appreciation rates have trailed the rest of the nation. In the last twelve months, Hermosa Beach's appreciation rate has been 0.17%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Hermosa Beach were at 3.50%, which equates to an annual appreciation rate of 14.75%.

Importantly, this makes Hermosa Beach 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 Hermosa Beach's latest annual appreciation rate is lower than 90% 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 Hermosa Beach differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Hermosa Beach - 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 Hermosa Beach real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$1,612,034

Hermosa Beach, CA HOME PRICES

> $1,010,000
75.5%
75.5%
$758,001 - $1,010,000
11.1%
11.1%
$505,001 - $758,000
6.3%
6.3%
$404,001 - $505,000
2.3%
2.3%
$303,001 - $404,000
1.1%
1.1%
$202,001 - $303,000
0.5%
0.5%
$101,001 - $202,000
0.9%
0.9%
$50,001 - $101,000
0.5%
0.5%
$0 - $50,000
1.7%
1.7%
0.0% 100.0%
% OF HOMES
Value Relative To State

Very High for Nation

Very High for CA

Value Relative To Nation

Number Of Homes And Apartments:
8,956

Hermosa Beach Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
CA*
Compared To
America*
Latest Quarter:
2021 Q1 - 2021 Q2
Last 12 Months:
2020 Q2 - 2021 Q2
Last 2 Years:
2019 Q2 - 2021 Q2
Last 5 Years:
2016 Q2 - 2021 Q2
Last 10 Years:
2011 Q2 - 2021 Q2
Since 2000:
2000 Q1 - 2021 Q2
154.03% 4.43%
7
10
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$3,567 / per month

Homeownership Rate

Owners
47.4%
47.4%
Renters
52.6%
52.6%
Vacant
11.0%
11.0%
0.0% 100.0%
% OF HOMES

Housing Market Details

 

Age of Homes

2000 or Newer
10.0%
10.0%
1970 - 1999
38.8%
38.8%
1940 - 1969
39.1%
39.1%
1939 or Older
12.2%
12.2%
0.0% 100.0%
% OF HOMES

Types of Homes

Single-Family
43.3%
43.3%
Townhomes
10.6%
10.6%
Small Apt. Buildings
18.9%
18.9%
Apt. Complexes
24.8%
24.8%
Mobile Homes
1.4%
1.4%
Other
1.0%
1.0%
0.0% 100.0%
% OF HOMES

Home Size

No Bedroom
5.9%
5.9%
1 Bedroom
21.4%
21.4%
2 Bedrooms
27.1%
27.1%
3 Bedrooms
29.2%
29.2%
4 Bedrooms
14.2%
14.2%
5 or more bedrooms
2.3%
2.3%
0.0% 100.0%
% OF HOMES