Lomita, CA
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
Lowest

Highest Appreciating Lomita Neighborhoods Since 2000




Lomita, 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

Lomita Housing Market Information

With 20,785 people, 8,049 houses or apartments, and a median cost of homes of $630,413, real estate costs in Lomita 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 Lomita, accounting for 50.56% of the city's housing units. Other types of housing that are prevalent in Lomita include large apartment complexes or high rise apartments ( 29.66%), row houses and other attached homes ( 9.58%), and a few mobile homes or trailers ( 4.89%).

People in Lomita primarily live in small (one, two or no bedroom) single-family detached homes. Lomita 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. Lomita's housing was primarily built during this period, from the '40s through the '60s. A full 53.30% of the city's housing hails from this era. Other housing ages represented in Lomita include homes built between 1970-1999 ( 32.42%) and housing constructed before 1939 ( 12.21%). There's also some housing in Lomita built between 2000 and later ( 2.07%).

Lomita Home Appreciation Rates

Appreciation rates for homes in Lomita have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 0.68%, which ranks in the top 50% nationwide. This equates to an annual average Lomita house appreciation rate of 0.07%.

Appreciation rates are so strong in Lomita that despite a nationwide downturn in the housing market, Lomita real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Lomita appreciation rates continue to be some of the highest in America, at 7.90%, which is higher than appreciation rates in 86.24% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Lomita. Lomita appreciation rates in the latest quarter were at 1.99%, which equates to an annual appreciation rate of 8.20%.

Importantly, this makes Lomita 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 Lomita's latest annual appreciation rate is higher than 50% of the other cities and towns in California.

Average Home Values

 

Median Home Value:
$630,413

Lomita, CA HOME PRICES

Value Range
> $1,259,000 2.6
$944,001 - $1,259,000 8.0
$630,001 - $944,000 37.3
$504,001 - $630,000 22.9
$378,001 - $504,000 13.2
$252,001 - $378,000 6.2
$126,001 - $252,000 1.0
$63,001 - $126,000 2.1
$0 - $63,000 6.7

High for CA
Very High for Nation

Value Relative to Nation Value Relative to State
3.48646431501231 27.7777777777778

Number Of Homes And Apartments:
8,049

Lomita 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
108.90% 4.36% 8 10
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,860 / per month

Homeownership Rate

Homeownership
Owners 42.02
Renters 57.98
Vacant 5.86

Housing Market Details

 

Age of Homes

AGE OF Lomita HOMES
2000 or Newer 2.1
1970 - 1999 32.4
1940 - 1969 53.3
1939 or Older 12.2

Types of Homes

TYPE OF Lomita HOMES
Single-Family 50.6
Townhomes 9.6
Small Apt. Buildings 4.8
Apt. Complexes 29.7
Mobile Homes 4.9
Other 0.5

Home Size

SIZE OF Lomita HOMES
No Bedroom 3.85
1 Bedroom 21.53
2 Bedrooms 36.44
3 Bedrooms 25.85
4 Bedrooms 9.61
5 or more bedrooms 2.71