Salinas, CA
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA



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Salinas, CA Real Estate Data

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 2018. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2016 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more

Salinas Housing Market Information

With a population of 157,218, 40,461 total housing units (homes and apartments), and a median house value of $367,390, real estate costs in Salinas 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 Salinas, accounting for 53.76% of the city's housing units. Other types of housing that are prevalent in Salinas include large apartment complexes or high rise apartments ( 27.41%), duplexes, homes converted to apartments or other small apartment buildings ( 9.12%), and a few row houses and other attached homes ( 6.10%).

The most prevalent building size and type in Salinas are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 42.61% owning and 57.39% renting.

There is a lot of housing in Salinas 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 Salinas built between 1940-1969 ( 33.40%). A lesser amount of the housing stock also hails from between 2000 and later ( 9.46%). There's also some housing in Salinas built before 1939 ( 5.80%).

Salinas Home Appreciation Rates

Appreciation rates for homes in Salinas have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 17.25%, which ranks in the top 30% nationwide. This equates to an annual average Salinas house appreciation rate of 1.60%.

Over the last year, Salinas appreciation rates have trailed the rest of the nation. In the last twelve months, Salinas's appreciation rate has been 3.76%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Salinas were at 3.09%, which equates to an annual appreciation rate of 12.96%.

Importantly, this makes Salinas 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 Salinas's latest annual appreciation rate is lower than 90% 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 Salinas differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Salinas - 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 Salinas real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$367,390

Salinas, CA HOME PRICES

Value Range
> $1,417,000 0.6
$1,062,001 - $1,417,000 0.3
$709,001 - $1,062,000 6.2
$566,001 - $709,000 11.7
$425,001 - $566,000 24.5
$283,001 - $425,000 27.9
$142,001 - $283,000 18.3
$71,001 - $142,000 4.3
$0 - $71,000 6.1

Low for CA
Very High for Nation

Value Relative to Nation Value Relative to State
12.8875912408759 62.1231979030144

Number Of Homes And Apartments:
40,461

Salinas Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
CA*
Compared To
America*
Latest Quarter:
2018 Q1 - 2018 Q2
Last 12 Months:
2017 Q2 - 2018 Q2
Last 2 Years:
2016 Q2 - 2018 Q2
Last 5 Years:
2013 Q2 - 2018 Q2
Last 10 Years:
2008 Q2 - 2018 Q2
Since 2000:
2000 Q1 - 2018 Q2
64.14% 2.71%
1
7
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,632 / per month

Homeownership Rate

Homeownership
Owners 42.61
Renters 57.39
Vacant 4.20

Housing Market Details

 

Age of Homes

AGE OF Salinas HOMES
2000 or Newer 9.5
1970 - 1999 51.3
1940 - 1969 33.4
1939 or Older 5.8

Types of Homes

TYPE OF Salinas HOMES
Single-Family 53.8
Townhomes 6.1
Small Apt. Buildings 9.1
Apt. Complexes 27.4
Mobile Homes 3.6
Other 0.0

Home Size

SIZE OF Salinas HOMES
No Bedroom 3.26
1 Bedroom 13.56
2 Bedrooms 30.53
3 Bedrooms 35.22
4 Bedrooms 14.43
5 or more bedrooms 3.00