Morgan Hill, CA
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
Lowest

Highest Appreciating Morgan Hill Neighborhoods Since 2000




Morgan Hill, 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

Morgan Hill Housing Market Information

With 42,948 people, 13,460 houses or apartments, and a median cost of homes of $725,094, real estate costs in Morgan Hill 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 Morgan Hill, accounting for 62.93% of the city's housing units. Other types of housing that are prevalent in Morgan Hill include row houses and other attached homes ( 13.02%), large apartment complexes or high rise apartments ( 9.22%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 8.46%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Morgan Hill. Owner-occupied housing accounts for 70.09% of Morgan Hill's homes, and 62.68% have either three or four bedrooms, which is average sized relative to America.

There is a lot of housing in Morgan Hill 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 Morgan Hill built between 2000 and later ( 17.81%). A lesser amount of the housing stock also hails from between 1940-1969 ( 10.11%). There's also some housing in Morgan Hill built before 1939 ( 2.00%).

Morgan Hill Home Appreciation Rates

Appreciation rates for homes in Morgan Hill have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 5.96%, which ranks in the top 40% nationwide. This equates to an annual average Morgan Hill house appreciation rate of 0.58%.

Appreciation rates are so strong in Morgan Hill that despite a nationwide downturn in the housing market, Morgan Hill real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Morgan Hill appreciation rates continue to be some of the highest in America, at 6.52%, which is higher than appreciation rates in 78.06% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Morgan Hill. Morgan Hill 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 Morgan Hill's latest annual appreciation rate is lower than 70% 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 Morgan Hill differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Morgan Hill - 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 Morgan Hill real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$725,094

Morgan Hill, CA HOME PRICES

Value Range
> $1,333,000 9.8
$999,001 - $1,333,000 22.4
$666,001 - $999,000 34.2
$533,001 - $666,000 11.3
$400,001 - $533,000 9.8
$266,001 - $400,000 4.7
$134,001 - $266,000 1.9
$66,001 - $134,000 3.5
$0 - $66,000 2.3

High for CA
Very High for Nation

Value Relative to Nation Value Relative to State
2.47275284190789 22.6190476190476

Number Of Homes And Apartments:
13,460

Morgan Hill 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
58.15% 2.69% 2 7
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$2,790 / per month

Homeownership Rate

Homeownership
Owners 70.09
Renters 29.91
Vacant 2.46

Housing Market Details

 

Age of Homes

AGE OF Morgan Hill HOMES
2000 or Newer 17.8
1970 - 1999 70.1
1940 - 1969 10.1
1939 or Older 2.0

Types of Homes

TYPE OF Morgan Hill HOMES
Single-Family 62.9
Townhomes 13.0
Small Apt. Buildings 8.5
Apt. Complexes 9.2
Mobile Homes 6.0
Other 0.3

Home Size

SIZE OF Morgan Hill HOMES
No Bedroom 0.43
1 Bedroom 4.45
2 Bedrooms 22.36
3 Bedrooms 32.07
4 Bedrooms 30.60
5 or more bedrooms 10.08