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 26,476 people, 10,733 houses or apartments, and a median cost of homes of $259,475, Paradise real estate prices are well above average cost compared to national prices.
Single-family detached homes are the single most common housing type in Paradise, accounting for 72.84% of the town's housing units. Other types of housing that are prevalent in Paradise include mobile homes or trailers ( 13.87%), duplexes, homes converted to apartments or other small apartment buildings ( 5.70%), and a few large apartment complexes or high rise apartments ( 5.18%).
Dwellings in Paradise tend to be quite small (one, two, or no bedrooms) and owner occupied. In fact, 58.52% of the homes in Paradise have two or fewer bedrooms.
There is a lot of housing in Paradise 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 Paradise built between 1940-1969 ( 37.97%). A lesser amount of the housing stock also hails from between 2000 and later ( 6.17%). There's also some housing in Paradise built before 1939 ( 5.07%).
Vacant housing appears to be an issue in Paradise. Fully 12.16% of the housing stock is classified as vacant. Left unchecked, vacant Paradise homes and apartments can be a drag on the real estate market, holding Paradise 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.
Paradise's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Paradise during the period has been just -1.87%, which is lower than 80% of US communities.
Appreciation rates are so strong in Paradise that despite a nationwide downturn in the housing market, Paradise real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Paradise appreciation rates continue to be some of the highest in America, at 9.13%, which is higher than appreciation rates in 91.15% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Paradise. Paradise appreciation rates in the latest quarter were at 1.71%, which equates to an annual appreciation rate of 7.00%.
Importantly, this makes Paradise 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 Paradise's latest annual appreciation rate is higher 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 town. Individual neighborhoods within Paradise differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Paradise - 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 Paradise real estate investment or home purchase decisions.
|$956,001 - $1,275,000||1.0|
|$638,001 - $956,000||2.8|
|$510,001 - $638,000||8.1|
|$383,001 - $510,000||12.0|
|$255,001 - $383,000||26.8|
|$127,001 - $255,000||29.7|
|$64,001 - $127,000||7.2|
|$0 - $64,000||12.1|
|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 Paradise HOMES|
|2000 or Newer||6.2|
|1970 - 1999||50.8|
|1940 - 1969||38.0|
|1939 or Older||5.1|
|TYPE OF Paradise HOMES|
|Small Apt. Buildings||5.7|
|SIZE OF Paradise HOMES|
|5 or more bedrooms||1.74|