La Mirada, CA
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Highest Appreciating La Mirada Neighborhoods Since 2000




La Mirada, 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 2017. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2015 (latest available). Updated annually.

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

La Mirada Housing Market Information

With a population of 49,520, 14,325 total housing units (homes and apartments), and a median house value of $527,655, real estate costs in La Mirada are among some of the highest in the nation, although house prices here don't compare to real estate prices in the most expensive California communities.

Single-family detached homes are the single most common housing type in La Mirada, accounting for 78.35% of the city's housing units. Other types of housing that are prevalent in La Mirada include large apartment complexes or high rise apartments ( 14.51%), row houses and other attached homes ( 3.92%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 1.94%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in La Mirada. Owner-occupied housing accounts for 72.78% of La Mirada's homes, and 72.78% have either three or four bedrooms, which is average sized relative to America.

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. La Mirada's housing was primarily built during this period, from the '40s through the '60s. A full 64.88% of the city's housing hails from this era. Other housing ages represented in La Mirada include homes built between 1970-1999 ( 31.60%) and housing constructed between 2000 and later ( 2.97%).

La Mirada Home Appreciation Rates

Real estate appreciation rates in La Mirada's have tracked to near the national average over the last then years, with the annual appreciation rate averaging -0.45% during the period.

Appreciation rates are so strong in La Mirada that despite a nationwide downturn in the housing market, La Mirada real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, La Mirada appreciation rates continue to be some of the highest in America, at 7.94%, which is higher than appreciation rates in 86.43% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in La Mirada. La Mirada appreciation rates in the latest quarter were at 1.99%, which equates to an annual appreciation rate of 8.20%.

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

Average Home Values

 

Median Home Value:
$527,655

La Mirada, CA HOME PRICES

Value Range
> $1,296,000 0.9
$972,001 - $1,296,000 2.6
$648,001 - $972,000 19.8
$519,001 - $648,000 33.5
$389,001 - $519,000 30.6
$259,001 - $389,000 6.1
$130,001 - $259,000 2.4
$65,001 - $130,000 0.7
$0 - $65,000 3.4

High for CA
Very High for Nation

Value Relative to Nation Value Relative to State
5.20332825500996 35.8465608465608

Number Of Homes And Apartments:
14,325

La Mirada Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
CA*
Compared To
America*
Latest Quarter:
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
Since 2000:
2000 Q1 - 2017 Q1
124.45% 4.80% 9 10
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$2,274 / per month

Homeownership Rate

Homeownership
Owners 72.78
Renters 27.22
Vacant 2.83

Housing Market Details

 

Age of Homes

AGE OF La Mirada HOMES
2000 or Newer 3.0
1970 - 1999 31.6
1940 - 1969 64.9
1939 or Older 0.5

Types of Homes

TYPE OF La Mirada HOMES
Single-Family 78.4
Townhomes 3.9
Small Apt. Buildings 1.9
Apt. Complexes 14.5
Mobile Homes 1.3
Other 0.0

Home Size

SIZE OF La Mirada HOMES
No Bedroom 8.26
1 Bedroom 6.01
2 Bedrooms 8.28
3 Bedrooms 45.95
4 Bedrooms 26.83
5 or more bedrooms 4.67