Lake Elsinore, CA
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Lake Elsinore, CA Real Estate Data


Lake Elsinore Housing Market Information

With a population of 61,981, 14,846 total housing units (homes and apartments), and a median house value of $302,493, Lake Elsinore real estate prices are well above average cost compared to national prices.

Single-family detached homes are the single most common housing type in Lake Elsinore, accounting for 74.35% of the city's housing units. Other types of housing that are prevalent in Lake Elsinore include large apartment complexes or high rise apartments ( 11.12%), duplexes, homes converted to apartments or other small apartment buildings ( 7.15%), and a few mobile homes or trailers ( 3.54%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Lake Elsinore. Owner-occupied housing accounts for 65.06% of Lake Elsinore's homes, and 63.97% have either three or four bedrooms, which is average sized relative to America.

Lake Elsinore homes and real estate are some of the newest in America. 45.09% 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 ( 44.63%), and between 1940-1969 ( 7.77%). There's also some housing in Lake Elsinore built before 1939 ( 2.51%).

Lake Elsinore Home Appreciation Rates

Homes have actually lost value in Lake Elsinore over the last then years, as home values have seen a decline of 30.72% during the ten year period. In the latest quarter, NeighborhoodScout appreciation rate data shows Lake Elsinore home appreciation rates at 1.54%, which equates to an annual appreciation rate of 6.30%.

NeighborhoodScout's data show that during the latest twelve months, Lake Elsinore's appreciation rate, at 5.30%, has been at or slightly above the national average. In the latest quarter, Lake Elsinore's appreciation rate has been 1.54%, which annualizes to a rate of 6.30%.

Relative to California, our data show that Lake Elsinore's latest annual appreciation rate is lower 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 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.

Average Home Values

 

Median Home Value:
$302,493

Lake Elsinore, CA HOME PRICES

Value Range
> $1,486,000 0.7
$1,114,001 - $1,486,000 0.6
$743,001 - $1,114,000 2.2
$594,001 - $743,000 4.2
$446,001 - $594,000 10.1
$297,001 - $446,000 33.7
$149,001 - $297,000 35.9
$74,001 - $149,000 5.8
$0 - $74,000 6.8

Low for CA
Very High for Nation

Value Relative to Nation Value Relative to State
16.6481232066522 67.7675033025099

Number Of Homes And Apartments:
14,846

Rent & Ownership

 

Average Market Rent:
$1,660 / per month

Homeownership Rate

Homeownership
Owners 65.06
Renters 34.94
Vacant 8.93

Housing Market Details

 

Age of Homes

AGE OF Lake Elsinore HOMES
2000 or Newer 45.1
1970 - 1999 44.6
1940 - 1969 7.8
1939 or Older 2.5

Types of Homes

TYPE OF Lake Elsinore HOMES
Single-Family 74.4
Townhomes 3.4
Small Apt. Buildings 7.2
Apt. Complexes 11.1
Mobile Homes 3.5
Other 0.4

Home Size

SIZE OF Lake Elsinore HOMES
No Bedroom 1.46
1 Bedroom 6.66
2 Bedrooms 17.74
3 Bedrooms 34.14
4 Bedrooms 29.83
5 or more bedrooms 10.16

Lake Elsinore Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
CA*
Compared To
America*
Latest Quarter:
2016 Q2 - 2016 Q3
Last 12 Months:
2015 Q4 - 2016 Q3
Last 2 Years:
2014 Q4 - 2016 Q3
Last 5 Years:
2011 Q4 - 2016 Q3
Last 10 Years:
2006 Q4 - 2016 Q3
Since 2000:
2000 Q1 - 2016 Q3
64.80% 2.98% 3 8
* 10 is highest