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 77,604, 20,792 total housing units (homes and apartments), and a median house value of $789,808, Milpitas house prices are not only among the most expensive in California, Milpitas real estate also is some of the most expensive in all of America.
Single-family detached homes are the single most common housing type in Milpitas, accounting for 56.69% of the city's housing units. Other types of housing that are prevalent in Milpitas include row houses and other attached homes ( 18.65%), large apartment complexes or high rise apartments ( 16.60%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 5.58%).
The most prevalent building size and type in Milpitas are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 62.41% owning and 37.59% renting.
There is a lot of housing in Milpitas 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 Milpitas built between 1940-1969 ( 26.76%). A lesser amount of the housing stock also hails from between 2000 and later ( 17.22%).
In the last 10 years, Milpitas has experienced some of the highest home appreciation rates of any community in the nation. Milpitas real estate appreciated 28.90% over the last ten years, which is an average annual home appreciation rate of 2.57%, putting Milpitas in the top 10% nationally for real estate appreciation. If you are a home buyer or real estate investor, Milpitas definitely has a track record of being one of the best long term real estate investments in America through the last ten years.
Appreciation rates are so strong in Milpitas that despite a nationwide downturn in the housing market, Milpitas real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Milpitas appreciation rates continue to be some of the highest in America, at 7.48%, which is higher than appreciation rates in 83.98% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Milpitas. Milpitas appreciation rates in the latest quarter were at 0.59%, which equates to an annual appreciation rate of 2.39%.
Relative to California, our data show that Milpitas's latest annual appreciation rate is lower 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 Milpitas differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Milpitas - 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 Milpitas real estate investment or home purchase decisions.
|$1,063,001 - $1,417,000||16.0|
|$708,001 - $1,063,000||40.0|
|$567,001 - $708,000||17.9|
|$425,001 - $567,000||10.8|
|$283,001 - $425,000||3.8|
|$142,001 - $283,000||2.9|
|$71,001 - $142,000||2.3|
|$0 - $71,000||1.4|
|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 Milpitas HOMES|
|2000 or Newer||17.2|
|1970 - 1999||55.4|
|1940 - 1969||26.8|
|1939 or Older||0.7|
|TYPE OF Milpitas HOMES|
|Small Apt. Buildings||5.6|
|SIZE OF Milpitas HOMES|
|5 or more bedrooms||4.99|