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 85,288, 29,049 total housing units (homes and apartments), and a median house value of $1,147,210, 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 47.46% of the city's housing units. Other types of housing that are prevalent in Redwood City include large apartment complexes or high rise apartments ( 31.18%), row houses and other attached homes ( 11.23%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 8.17%).
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 48.60% of the city's housing hails from this era. Other housing ages represented in Redwood City include homes built between 1970-1999 ( 37.49%) and housing constructed before 1939 ( 9.11%). There's also some housing in Redwood City built between 2000 and later ( 4.80%).
In the last 10 years, Redwood City has experienced some of the highest home appreciation rates of any community in the nation. Redwood City real estate appreciated 46.94% over the last ten years, which is an average annual home appreciation rate of 3.92%, putting Redwood City in the top 10% nationally for real estate appreciation. If you are a home buyer or real estate investor, Redwood City 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 Redwood City that despite a nationwide downturn in the housing market, Redwood City real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Redwood City appreciation rates continue to be some of the highest in America, at 9.96%, which is higher than appreciation rates in 93.76% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Redwood City. Redwood City appreciation rates in the latest quarter were at 2.03%, which equates to an annual appreciation rate of 8.39%.
Importantly, this makes Redwood City 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 Redwood City's latest annual appreciation rate is higher 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.
|$1,101,001 - $1,469,000||24.6|
|$734,001 - $1,101,000||28.0|
|$587,001 - $734,000||7.9|
|$441,001 - $587,000||4.7|
|$294,001 - $441,000||3.2|
|$147,001 - $294,000||2.9|
|$74,001 - $147,000||1.8|
|$0 - $74,000||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 Redwood City HOMES|
|2000 or Newer||4.8|
|1970 - 1999||37.5|
|1940 - 1969||48.6|
|1939 or Older||9.1|
|TYPE OF Redwood City HOMES|
|Small Apt. Buildings||8.2|
|SIZE OF Redwood City HOMES|
|5 or more bedrooms||1.92|