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 about Scout's Real Estate Data
With a population of 81,643, 30,020 total housing units (homes and apartments), and a median house value of $1,511,246, Redwood City house prices are not only among the most expensive in California, Redwood City 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 Redwood City, accounting for 44.90% of the city's housing units. Other types of housing that are prevalent in Redwood City include large apartment complexes or high rise apartments ( 33.34%), row houses and other attached homes ( 12.41%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 7.61%).
People in Redwood City primarily live in small (one, two or no bedroom) single-family detached homes. Redwood City has a mixture of owner-occupied and renter-occupied housing.
At the end of World War II, American soldiers returned home triumphant and, with the help of the GI Bill, built homes by the millions on the edges of America's cities. These homes were predominantly capes and ranches, modest in size, but built to house a growing middle-class as the 20th century became the American century. Redwood City's housing was primarily built during this period, from the '40s through the '60s. A full 45.73% of the city's housing hails from this era. Other housing ages represented in Redwood City include homes built between 1970-1999 ( 33.81%) and housing constructed between 2000 and later ( 13.32%). There's also some housing in Redwood City built before 1939 ( 7.14%).
Appreciation rates for homes in Redwood City have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 88.63%, which ranks in the top 40% nationwide. This equates to an annual average Redwood City house appreciation rate of 6.55%.
Over the last year, Redwood City appreciation rates have trailed the rest of the nation. In the last twelve months, Redwood City's appreciation rate has been 4.64%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Redwood City were at -6.98%, which equates to an annual appreciation rate of -25.12%.
Notably, Redwood City's appreciation rate in the latest quarter is one of the lowest in America.
Relative to California, our data show that Redwood City's latest annual appreciation rate is lower than 80% 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 Redwood City differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Redwood City - 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 Redwood City real estate investment or home purchase decisions.
$4,522 / per month