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 about Scout's Real Estate Data
With 456,062 people, 169,958 houses or apartments, and a median cost of homes of $667,376, real estate costs in Long Beach 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 Long Beach, accounting for 40.68% of the city's housing units. Other types of housing that are prevalent in Long Beach include large apartment complexes or high rise apartments ( 40.21%), duplexes, homes converted to apartments or other small apartment buildings ( 13.51%), and a few row houses and other attached homes ( 4.31%).
People in Long Beach primarily live in small (one, two or no bedroom) single-family detached homes. Long 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. Long Beach's housing was primarily built during this period, from the '40s through the '60s. A full 48.40% of the city's housing hails from this era. Other housing ages represented in Long Beach include homes built between 1970-1999 ( 26.70%) and housing constructed before 1939 ( 19.64%). There's also some housing in Long Beach built between 2000 and later ( 5.26%).
In the last 10 years, Long Beach has experienced some of the highest home appreciation rates of any community in the nation. Long Beach real estate appreciated 120.91% over the last ten years, which is an average annual home appreciation rate of 8.25%, putting Long Beach in the top 20% nationally for real estate appreciation. If you are a home buyer or real estate investor, Long Beach definitely has a track record of being one of the best long term real estate investments in America through the last ten years.
Over the last year, Long Beach appreciation rates have trailed the rest of the nation. In the last twelve months, Long Beach's appreciation rate has been 0.39%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Long Beach were at -2.77%, which equates to an annual appreciation rate of -10.61%.
Notably, Long Beach's appreciation rate in the latest quarter is one of the lowest in America.
Relative to California, our data show that Long Beach'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 Long Beach differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Long 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 Long Beach real estate investment or home purchase decisions.
$2,616 / per month