Riverside, CA Real Estate Market

Source & Methodology

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.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q2 2021. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2019 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data

Riverside, CA Housing Market Trends

With 331,360 people, 90,722 houses or apartments, and a median cost of homes of $455,573, real estate costs in Riverside 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 Riverside, accounting for 63.87% of the city's housing units. Other types of housing that are prevalent in Riverside include large apartment complexes or high rise apartments ( 23.56%), duplexes, homes converted to apartments or other small apartment buildings ( 5.87%), and a few row houses and other attached homes ( 4.27%).

The most prevalent building size and type in Riverside are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 51.50% owning and 48.50% renting.

There is a lot of housing in Riverside 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 Riverside built between 1940-1969 ( 33.16%). A lesser amount of the housing stock also hails from between 2000 and later ( 14.26%). There's also some housing in Riverside built before 1939 ( 7.20%).

Riverside Home Appreciation Rates

In the last 10 years, Riverside has experienced some of the highest home appreciation rates of any community in the nation. Riverside real estate appreciated 132.79% over the last ten years, which is an average annual home appreciation rate of 8.82%, putting Riverside in the top 10% nationally for real estate appreciation. If you are a home buyer or real estate investor, Riverside 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 Riverside that despite a nationwide downturn in the housing market, Riverside real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Riverside appreciation rates continue to be some of the highest in America, at 13.16%, which is higher than appreciation rates in 89.76% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Riverside. Riverside appreciation rates in the latest quarter were at 4.90%, which equates to an annual appreciation rate of 21.09%.

Importantly, this makes Riverside 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 Riverside'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 Riverside differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Riverside - 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 Riverside real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$455,573

Riverside, CA HOME PRICES

> $1,324,000
1.3%
1.3%
$993,001 - $1,324,000
1.8%
1.8%
$662,001 - $993,000
8.8%
8.8%
$530,001 - $662,000
17.3%
17.3%
$397,001 - $530,000
38.4%
38.4%
$265,001 - $397,000
20.5%
20.5%
$132,001 - $265,000
7.4%
7.4%
$66,001 - $132,000
1.7%
1.7%
$0 - $66,000
2.8%
2.8%
0.0% 100.0%
% OF HOMES
Value Relative To State

Very High for Nation

Average for CA

Value Relative To Nation

Number Of Homes And Apartments:
90,722

Riverside Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
CA*
Compared To
America*
Latest Quarter:
2021 Q1 - 2021 Q2
Last 12 Months:
2020 Q2 - 2021 Q2
Last 2 Years:
2019 Q2 - 2021 Q2
Last 5 Years:
2016 Q2 - 2021 Q2
Last 10 Years:
2011 Q2 - 2021 Q2
Since 2000:
2000 Q1 - 2021 Q2
191.40% 5.10%
9
10
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$2,099 / per month

Homeownership Rate

Owners
51.5%
51.5%
Renters
48.5%
48.5%
Vacant
5.5%
5.5%
0.0% 100.0%
% OF HOMES

Housing Market Details

 

Age of Homes

2000 or Newer
14.3%
14.3%
1970 - 1999
45.4%
45.4%
1940 - 1969
33.2%
33.2%
1939 or Older
7.2%
7.2%
0.0% 100.0%
% OF HOMES

Types of Homes

Single-Family
63.9%
63.9%
Townhomes
4.3%
4.3%
Small Apt. Buildings
5.9%
5.9%
Apt. Complexes
23.6%
23.6%
Mobile Homes
2.4%
2.4%
Other
0.1%
0.1%
0.0% 100.0%
% OF HOMES

Home Size

No Bedroom
2.9%
2.9%
1 Bedroom
13.6%
13.6%
2 Bedrooms
23.6%
23.6%
3 Bedrooms
33.0%
33.0%
4 Bedrooms
21.4%
21.4%
5 or more bedrooms
5.5%
5.5%
0.0% 100.0%
% OF HOMES