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 5,021 people, 1,862 houses or apartments, and a median cost of homes of $299,987, 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 93.60% of the town's housing units. Other types of housing that are prevalent in Running Springs include duplexes, homes converted to apartments or other small apartment buildings ( 3.05%), large apartment complexes or high rise apartments ( 1.83%).
Dwellings in Running Springs tend to be quite small (one, two, or no bedrooms) and owner occupied. In fact, 56.44% 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 ( 38.30%). A lesser amount of the housing stock also hails from between 2000 and later ( 7.36%). There's also some housing in Running Springs built before 1939 ( 7.09%).
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.
Homes have actually lost value in Running Springs over the last then years, as home values have seen a decline of 20.00% during the ten year period. In the latest quarter, NeighborhoodScout appreciation rate data shows Running Springs home appreciation rates at 2.02%, which equates to an annual appreciation rate of 8.32%.
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 6.96%, which is higher than appreciation rates in 81.13% 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 2.02%, which equates to an annual appreciation rate of 8.32%.
Importantly, this makes Running Springs one of the highest appreciating communities in the nation for the latest quarter, and may signal the town's near-future real estate investment strength.
Relative to California, our data show that Running Springs's latest annual appreciation rate is lower than 60% of the other cities and towns in California.
|$975,001 - $1,300,000||3.7|
|$650,001 - $975,000||2.7|
|$520,001 - $650,000||5.0|
|$390,001 - $520,000||11.7|
|$260,001 - $390,000||28.2|
|$130,001 - $260,000||38.2|
|$65,001 - $130,000||8.3|
|$0 - $65,000||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 Running Springs HOMES|
|2000 or Newer||7.4|
|1970 - 1999||47.3|
|1940 - 1969||38.3|
|1939 or Older||7.1|
|TYPE OF Running Springs HOMES|
|Small Apt. Buildings||3.1|
|SIZE OF Running Springs HOMES|
|5 or more bedrooms||1.67|