Torrance, CA
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Highest Appreciating Torrance Neighborhoods Since 2000




Torrance, CA Real Estate Data


Torrance Housing Market Information

With a population of 148,475, 55,279 total housing units (homes and apartments), and a median house value of $806,162, Torrance house prices are not only among the most expensive in California, Torrance 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 Torrance, accounting for 54.45% of the city's housing units. Other types of housing that are prevalent in Torrance include large apartment complexes or high rise apartments ( 31.27%), row houses and other attached homes ( 6.37%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 5.78%).

The most prevalent building size and type in Torrance are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 55.14% owning and 44.86% renting.

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. Torrance's housing was primarily built during this period, from the '40s through the '60s. A full 64.59% of the city's housing hails from this era. Other housing ages represented in Torrance include homes built between 1970-1999 ( 28.23%) and housing constructed between 2000 and later ( 4.08%). There's also some housing in Torrance built before 1939 ( 3.11%).

Torrance Home Appreciation Rates

Appreciation rates for homes in Torrance have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 5.73%, which ranks in the top 50% nationwide. This equates to an annual average Torrance house appreciation rate of 0.56%.

Appreciation rates are so strong in Torrance that despite a nationwide downturn in the housing market, Torrance real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Torrance appreciation rates continue to be some of the highest in America, at 6.50%, which is higher than appreciation rates in 80.06% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Torrance. Torrance appreciation rates in the latest quarter were at 1.34%, which equates to an annual appreciation rate of 5.46%.

Relative to California, our data show that Torrance's latest annual appreciation rate is lower than 50% 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 Torrance differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Torrance - 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 Torrance real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$806,162

Torrance, CA HOME PRICES

Value Range
> $1,286,000 4.8
$964,001 - $1,286,000 20.2
$643,001 - $964,000 48.1
$514,001 - $643,000 13.9
$386,001 - $514,000 6.1
$257,001 - $386,000 2.5
$129,001 - $257,000 1.3
$64,001 - $129,000 1.4
$0 - $64,000 1.8

Very High for CA
Very High for Nation

Value Relative to Nation Value Relative to State
1.97927036364701 18.4940554821664

Number Of Homes And Apartments:
55,279

Rent & Ownership

 

Average Market Rent:
$2,078 / per month

Homeownership Rate

Homeownership
Owners 55.14
Renters 44.86
Vacant 6.06

Housing Market Details

 

Age of Homes

AGE OF Torrance HOMES
2000 or Newer 4.1
1970 - 1999 28.2
1940 - 1969 64.6
1939 or Older 3.1

Types of Homes

TYPE OF Torrance HOMES
Single-Family 54.4
Townhomes 6.4
Small Apt. Buildings 5.8
Apt. Complexes 31.3
Mobile Homes 2.0
Other 0.1

Home Size

SIZE OF Torrance HOMES
No Bedroom 3.50
1 Bedroom 15.92
2 Bedrooms 25.75
3 Bedrooms 36.75
4 Bedrooms 15.45
5 or more bedrooms 2.63

Torrance Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
CA*
Compared To
America*
Latest Quarter:
2016 Q2 - 2016 Q3
Last 12 Months:
2015 Q4 - 2016 Q3
Last 2 Years:
2014 Q4 - 2016 Q3
Last 5 Years:
2011 Q4 - 2016 Q3
Last 10 Years:
2006 Q4 - 2016 Q3
Since 2000:
2000 Q1 - 2016 Q3
120.16% 4.75% 9 10
* 10 is highest