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 a population of 87,174, 27,524 total housing units (homes and apartments), and a median house value of $326,977, real estate costs in Menifee 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 Menifee, accounting for 82.01% of the city's housing units. Other types of housing that are prevalent in Menifee include mobile homes or trailers ( 9.48%), large apartment complexes or high rise apartments ( 4.17%), and a few row houses and other attached homes ( 2.55%).
Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Menifee. Owner-occupied housing accounts for 73.88% of Menifee's homes, and 55.76% have either three or four bedrooms, which is average sized relative to America.
There is a lot of housing in Menifee 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 Menifee built between 2000 and later ( 42.69%). A lesser amount of the housing stock also hails from between 1940-1969 ( 13.17%).
Homes have actually lost value in Menifee over the last then years, as home values have seen a decline of 19.94% during the ten year period. In the latest quarter, NeighborhoodScout appreciation rate data shows Menifee home appreciation rates at 2.02%, which equates to an annual appreciation rate of 8.32%.
Appreciation rates are so strong in Menifee that despite a nationwide downturn in the housing market, Menifee real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Menifee appreciation rates continue to be some of the highest in America, at 8.68%, which is higher than appreciation rates in 89.61% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Menifee. Menifee appreciation rates in the latest quarter were at 2.02%, which equates to an annual appreciation rate of 8.32%.
Importantly, this makes Menifee 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 Menifee'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 Menifee differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Menifee - 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 Menifee real estate investment or home purchase decisions.
|$1,055,001 - $1,406,000||0.4|
|$703,001 - $1,055,000||0.8|
|$563,001 - $703,000||3.3|
|$422,001 - $563,000||19.8|
|$281,001 - $422,000||34.3|
|$141,001 - $281,000||29.8|
|$70,001 - $141,000||5.6|
|$0 - $70,000||5.6|
|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 Menifee HOMES|
|2000 or Newer||42.7|
|1970 - 1999||43.5|
|1940 - 1969||13.2|
|1939 or Older||0.6|
|TYPE OF Menifee HOMES|
|Small Apt. Buildings||1.5|
|SIZE OF Menifee HOMES|
|5 or more bedrooms||9.00|