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 61,981 people, 15,462 houses or apartments, and a median cost of homes of $320,174, real estate costs in Lake Elsinore 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 Lake Elsinore, accounting for 74.21% of the city's housing units. Other types of housing that are prevalent in Lake Elsinore include large apartment complexes or high rise apartments ( 10.63%), duplexes, homes converted to apartments or other small apartment buildings ( 7.65%), and a few mobile homes or trailers ( 3.68%).
The most prevalent building size and type in Lake Elsinore are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 63.43% owning and 36.57% renting.
Lake Elsinore homes and real estate are some of the newest in America. 46.06% of Lake Elsinore's housing was built since 2000, making the city have a very new look and feel. If you like the amenities of newer homes and subdivisions, then you will probably like what the Lake Elsinore real estate market has to offer. Quite a bit of the housing here was also built between 1970-1999 ( 44.47%), and between 1940-1969 ( 7.33%). There's also some housing in Lake Elsinore built before 1939 ( 2.14%).
Homes have actually lost value in Lake Elsinore over the last then years, as home values have seen a decline of 25.06% during the ten year period. In the latest quarter, NeighborhoodScout appreciation rate data shows Lake Elsinore home appreciation rates at 2.02%, which equates to an annual appreciation rate of 8.32%.
Appreciation rates are so strong in Lake Elsinore that despite a nationwide downturn in the housing market, Lake Elsinore real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Lake Elsinore appreciation rates continue to be some of the highest in America, at 8.48%, which is higher than appreciation rates in 88.84% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Lake Elsinore. Lake Elsinore appreciation rates in the latest quarter were at 2.02%, which equates to an annual appreciation rate of 8.32%.
Importantly, this makes Lake Elsinore 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 Lake Elsinore's latest annual appreciation rate is higher 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 Lake Elsinore differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Lake Elsinore - 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 Lake Elsinore real estate investment or home purchase decisions.
|$1,077,001 - $1,437,000||0.9|
|$718,001 - $1,077,000||1.8|
|$575,001 - $718,000||6.1|
|$431,001 - $575,000||14.9|
|$287,001 - $431,000||30.3|
|$144,001 - $287,000||32.7|
|$72,001 - $144,000||6.2|
|$0 - $72,000||6.7|
|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 Lake Elsinore HOMES|
|2000 or Newer||46.1|
|1970 - 1999||44.5|
|1940 - 1969||7.3|
|1939 or Older||2.1|
|TYPE OF Lake Elsinore HOMES|
|Small Apt. Buildings||7.6|
|SIZE OF Lake Elsinore HOMES|
|5 or more bedrooms||10.35|