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 109,830, 32,685 total housing units (homes and apartments), and a median house value of $412,693, real estate costs in Murrieta 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 Murrieta, accounting for 75.00% of the city's housing units. Other types of housing that are prevalent in Murrieta include large apartment complexes or high rise apartments ( 14.47%), mobile homes or trailers ( 4.25%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 3.82%).
Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Murrieta. Owner-occupied housing accounts for 66.23% of Murrieta's homes, and 57.88% have either three or four bedrooms, which is average sized relative to America.
Murrieta homes and real estate are some of the newest in America. 51.19% of Murrieta's housing was built since 2000, making the city have a very new look and feel. If you like the amenities of newer homes and subdivisions, then you will probably like what the Murrieta real estate market has to offer. Quite a bit of the housing here was also built between 1970-1999 ( 46.31%), and between 1940-1969 ( 2.27%).
Murrieta's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Murrieta during the period has been just -1.97%, which is lower than 80% of US communities.
Appreciation rates are so strong in Murrieta that despite a nationwide downturn in the housing market, Murrieta real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Murrieta appreciation rates continue to be some of the highest in America, at 6.57%, which is higher than appreciation rates in 78.34% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Murrieta. Murrieta appreciation rates in the latest quarter were at 2.02%, which equates to an annual appreciation rate of 8.32%.
Importantly, this makes Murrieta 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 Murrieta'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 Murrieta differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Murrieta - 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 Murrieta real estate investment or home purchase decisions.
|$991,001 - $1,321,000||1.8|
|$660,001 - $991,000||4.2|
|$528,001 - $660,000||13.7|
|$396,001 - $528,000||30.8|
|$264,001 - $396,000||31.6|
|$132,001 - $264,000||13.2|
|$66,001 - $132,000||0.8|
|$0 - $66,000||2.1|
|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 Murrieta HOMES|
|2000 or Newer||51.2|
|1970 - 1999||46.3|
|1940 - 1969||2.3|
|1939 or Older||0.2|
|TYPE OF Murrieta HOMES|
|Small Apt. Buildings||3.8|
|SIZE OF Murrieta HOMES|
|5 or more bedrooms||18.60|