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 8,560, 3,031 total housing units (homes and apartments), and a median house value of $1,938,125, Topanga house prices are not only among the most expensive in California, Topanga 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 Topanga, accounting for 86.05% of the town's housing units. Other types of housing that are prevalent in Topanga include mobile homes or trailers ( 9.60%), large apartment complexes or high rise apartments ( 2.25%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 1.21%).
Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Topanga. Owner-occupied housing accounts for 74.89% of Topanga's homes, and 65.49% have either three or four bedrooms, which is average sized relative to America.
At the end of World War II, American soldiers returned home triumphant and, with the help of the GI Bill, built homes by the millions on the edges of America's cities. These homes were predominantly capes and ranches, modest in size, but built to house a growing middle-class as the 20th century became the American century. Topanga's housing was primarily built during this period, from the '40s through the '60s. A full 41.83% of the town's housing hails from this era. Other housing ages represented in Topanga include homes built between 1970-1999 ( 35.14%) and housing constructed between 2000 and later ( 11.56%). There's also some housing in Topanga built before 1939 ( 11.47%).
Vacant housing appears to be an issue in Topanga. Fully 12.63% of the housing stock is classified as vacant. Left unchecked, vacant Topanga homes and apartments can be a drag on the real estate market, holding Topanga real estate prices below levels they could achieve if vacant housing was absorbed into the market and became occupied. Housing vacancy rates are a useful measure to consider, along with other things, if you are a home buyer or a real estate investor.
Appreciation rates for homes in Topanga have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 93.65%, which ranks in the top 40% nationwide. This equates to an annual average Topanga house appreciation rate of 6.83%.
NeighborhoodScout's data show that during the latest twelve months, Topanga's appreciation rate, at 4.94%, has been at or slightly above the national average. In the latest quarter, Topanga's appreciation rate has been 2.98%, which annualizes to a rate of 12.46%.
Relative to California, our data show that Topanga's latest annual appreciation rate is higher than 90% of the other cities and towns in California.
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