Santa Cruz, CA
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA



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Santa Cruz, 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 2019. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2017 (latest available). Updated annually.

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

Santa Cruz Housing Market Information

With 65,021 people, 22,231 houses or apartments, and a median cost of homes of $842,228, Santa Cruz house prices are not only among the most expensive in California, Santa Cruz 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 Santa Cruz, accounting for 54.71% of the city's housing units. Other types of housing that are prevalent in Santa Cruz include large apartment complexes or high rise apartments ( 22.87%), duplexes, homes converted to apartments or other small apartment buildings ( 11.53%), and a few row houses and other attached homes ( 8.67%).

People in Santa Cruz primarily live in small (one, two or no bedroom) single-family detached homes. Santa Cruz has a mixture of owner-occupied and renter-occupied housing.

There is a lot of housing in Santa Cruz 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 Santa Cruz built between 1940-1969 ( 34.27%). A lesser amount of the housing stock also hails from before 1939 ( 20.50%). There's also some housing in Santa Cruz built between 2000 and later ( 9.06%).

Santa Cruz Home Appreciation Rates

In the last 10 years, Santa Cruz has experienced some of the highest home appreciation rates of any community in the nation. Santa Cruz real estate appreciated 50.34% over the last ten years, which is an average annual home appreciation rate of 4.16%, putting Santa Cruz in the top 10% nationally for real estate appreciation. If you are a home buyer or real estate investor, Santa Cruz definitely has a track record of being one of the best long term real estate investments in America through the last ten years.

Over the last year, Santa Cruz appreciation rates have trailed the rest of the nation. In the last twelve months, Santa Cruz's appreciation rate has been 0.10%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Santa Cruz were at 0.09%, which equates to an annual appreciation rate of 0.37%.

Relative to California, our data show that Santa Cruz's latest annual appreciation rate is lower 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 Santa Cruz differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Santa Cruz - 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 Santa Cruz real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$842,228

Santa Cruz, CA HOME PRICES

Value Range
> $1,265,000 14.7
$949,001 - $1,265,000 28.6
$632,001 - $949,000 32.0
$506,001 - $632,000 7.7
$380,001 - $506,000 7.4
$253,001 - $380,000 3.8
$127,001 - $253,000 1.1
$63,001 - $127,000 0.9
$0 - $63,000 3.8

Very High for CA
Very High for Nation

Value Relative to Nation Value Relative to State
1.97956204379562 18.348623853211

Number Of Homes And Apartments:
22,231

Santa Cruz Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
CA*
Compared To
America*
Latest Quarter:
2019 Q1 - 2019 Q2
Last 12 Months:
2018 Q2 - 2019 Q2
Last 2 Years:
2017 Q2 - 2019 Q2
Last 5 Years:
2014 Q2 - 2019 Q2
Last 10 Years:
2009 Q2 - 2019 Q2
Since 2000:
2000 Q1 - 2019 Q2
97.14% 3.54%
4
9
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$3,001 / per month

Homeownership Rate

Homeownership
Owners 39.80
Renters 60.20
Vacant 7.72

Housing Market Details

 

Age of Homes

AGE OF Santa Cruz HOMES
2000 or Newer 9.1
1970 - 1999 36.2
1940 - 1969 34.3
1939 or Older 20.5

Types of Homes

TYPE OF Santa Cruz HOMES
Single-Family 54.7
Townhomes 8.7
Small Apt. Buildings 11.5
Apt. Complexes 22.9
Mobile Homes 2.1
Other 0.1

Home Size

SIZE OF Santa Cruz HOMES
No Bedroom 9.54
1 Bedroom 16.78
2 Bedrooms 32.98
3 Bedrooms 30.04
4 Bedrooms 8.58
5 or more bedrooms 2.08