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 5,268, 1,631 total housing units (homes and apartments), and a median house value of $434,457, Running Springs real estate prices are well above average cost compared to national prices.
Single-family detached homes are the single most common housing type in Running Springs, accounting for 94.39% of the town's housing units. Other types of housing that are prevalent in Running Springs include row houses and other attached homes ( 3.08%), duplexes, homes converted to apartments or other small apartment buildings ( 2.27%).
Dwellings in Running Springs tend to be quite small (one, two, or no bedrooms) and owner occupied. In fact, 53.28% of the homes in Running Springs have two or fewer bedrooms.
There is a lot of housing in Running Springs 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 Running Springs built between 1940-1969 ( 42.07%). A lesser amount of the housing stock also hails from between 2000 and later ( 5.55%). There's also some housing in Running Springs built before 1939 ( 4.48%).
A decent proportion of the Running Springs housing stock is seasonally occupied. That is, homes and condos in Running Springs are occupied by people for a portion of the year - mainly for vacation purposes - and then locked up and left unoccupied for the remainder of the year as owners return to their primary residences. This characteristic of the Running Springs housing market speaks to its popularity as a vacation location of choice.
In the last 10 years, Running Springs has experienced some of the highest home appreciation rates of any community in the nation. Running Springs real estate appreciated 154.50% over the last ten years, which is an average annual home appreciation rate of 9.79%, putting Running Springs in the top 10% nationally for real estate appreciation. If you are a home buyer or real estate investor, Running Springs 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 Running Springs that despite a nationwide downturn in the housing market, Running Springs real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Running Springs appreciation rates continue to be some of the highest in America, at 17.69%, which is higher than appreciation rates in 79.72% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Running Springs. Running Springs appreciation rates in the latest quarter were at 4.00%, which equates to an annual appreciation rate of 16.99%.
Relative to California, our data show that Running Springs's latest annual appreciation rate is higher than 80% of the other cities and towns in California.
Very High for Nation
Low for CA