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 11,405 people, 4,747 houses or apartments, and a median cost of homes of $197,099, Magalia real estate values are some of the lowest in California, although compared to real estate around the nation, Magalia homes are still considered rather expensive.
Single-family detached homes are the single most common housing type in Magalia, accounting for 59.18% of the town's housing units. Other types of housing that are prevalent in Magalia include mobile homes or trailers ( 39.20%), duplexes, homes converted to apartments or other small apartment buildings ( 1.02%).
Dwellings in Magalia tend to be quite small (one, two, or no bedrooms) and owner occupied. In fact, 52.01% of the homes in Magalia have two or fewer bedrooms.
There is a lot of housing in Magalia built from 1970 to 1999 so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in Magalia built between 2000 and later ( 9.35%). A lesser amount of the housing stock also hails from between 1940-1969 ( 7.30%). There's also some housing in Magalia built before 1939 ( 1.00%).
Vacant housing appears to be an issue in Magalia. Fully 13.61% of the housing stock is classified as vacant. Left unchecked, vacant Magalia homes and apartments can be a drag on the real estate market, holding Magalia real estate prices below levels they could achieve if vacant housing was absorbed into the market and became occupied. Housing vacancy rates are a useful measure to consider, along with other things, if you are a home buyer or a real estate investor.
Homes have actually lost value in Magalia over the last then years, as home values have seen a decline of 23.38% during the ten year period. In the latest quarter, NeighborhoodScout appreciation rate data shows Magalia home appreciation rates at 1.71%, which equates to an annual appreciation rate of 7.00%.
Appreciation rates are so strong in Magalia that despite a nationwide downturn in the housing market, Magalia real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Magalia appreciation rates continue to be some of the highest in America, at 8.84%, which is higher than appreciation rates in 90.25% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Magalia. Magalia appreciation rates in the latest quarter were at 1.71%, which equates to an annual appreciation rate of 7.00%.
Importantly, this makes Magalia one of the highest appreciating communities in the nation for the latest quarter, and may signal the town's near-future real estate investment strength.
Relative to California, our data show that Magalia's latest annual appreciation rate is higher than 60% of the other cities and towns in California.
|$955,001 - $1,273,000||0.4|
|$636,001 - $955,000||2.5|
|$509,001 - $636,000||0.5|
|$382,001 - $509,000||4.8|
|$255,001 - $382,000||21.1|
|$127,001 - $255,000||45.2|
|$63,001 - $127,000||16.3|
|$0 - $63,000||8.3|
|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 Magalia HOMES|
|2000 or Newer||9.4|
|1970 - 1999||82.3|
|1940 - 1969||7.3|
|1939 or Older||1.0|
|TYPE OF Magalia HOMES|
|Small Apt. Buildings||1.0|
|SIZE OF Magalia HOMES|
|5 or more bedrooms||0.11|