Redwood City, CA
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
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Highest Appreciating Redwood City Neighborhoods Since 2000




Redwood City, CA Real Estate Data


Redwood City Housing Market Information

With 85,288 people, 28,129 houses or apartments, and a median cost of homes of $1,120,619, 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 48.15% of the city's housing units. Other types of housing that are prevalent in Redwood City include large apartment complexes or high rise apartments ( 30.59%), row houses and other attached homes ( 11.56%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 7.88%).

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 49.11% of the city's housing hails from this era. Other housing ages represented in Redwood City include homes built between 1970-1999 ( 37.08%) and housing constructed before 1939 ( 9.43%). There's also some housing in Redwood City built between 2000 and later ( 4.38%).

Redwood City Home Appreciation Rates

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 38.28% over the last ten years, which is an average annual home appreciation rate of 3.29%, 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 7.69%, which is higher than appreciation rates in 89.78% 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 1.69%, which equates to an annual appreciation rate of 6.92%.

Relative to California, our data show that Redwood City'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 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.

Average Home Values

 

Median Home Value:
$1,120,619

Redwood City, CA HOME PRICES

Value Range
> $1,573,000 19.9
$1,180,001 - $1,573,000 23.4
$787,001 - $1,180,000 30.8
$629,001 - $787,000 9.7
$472,001 - $629,000 6.2
$315,001 - $472,000 4.3
$157,001 - $315,000 3.1
$79,001 - $157,000 1.1
$0 - $79,000 1.5

Very High for CA
Very High for Nation

Value Relative to Nation Value Relative to State
0.878374421736839 9.24702774108322

Number Of Homes And Apartments:
28,129

Rent & Ownership

 

Average Market Rent:
$2,690 / per month

Homeownership Rate

Homeownership
Owners 51.06
Renters 48.94
Vacant 4.19

Housing Market Details

 

Age of Homes

AGE OF Redwood City HOMES
2000 or Newer 4.4
1970 - 1999 37.1
1940 - 1969 49.1
1939 or Older 9.4

Types of Homes

TYPE OF Redwood City HOMES
Single-Family 48.2
Townhomes 11.6
Small Apt. Buildings 7.9
Apt. Complexes 30.6
Mobile Homes 1.8
Other 0.0

Home Size

SIZE OF Redwood City HOMES
No Bedroom 5.52
1 Bedroom 18.87
2 Bedrooms 31.10
3 Bedrooms 30.59
4 Bedrooms 12.02
5 or more bedrooms 1.89

Redwood City Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
CA*
Compared To
America*
Latest Quarter:
2016 Q2 - 2016 Q3
Last 12 Months:
2015 Q4 - 2016 Q3
Last 2 Years:
2014 Q4 - 2016 Q3
Last 5 Years:
2011 Q4 - 2016 Q3
Last 10 Years:
2006 Q4 - 2016 Q3
Since 2000:
2000 Q1 - 2016 Q3
116.41% 4.65% 9 10
* 10 is highest