Tustin, CA
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Tustin, 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 Q1 2017. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2015 (latest available). Updated annually.

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

Tustin Housing Market Information

With a population of 80,583, 25,340 total housing units (homes and apartments), and a median house value of $634,969, real estate costs in Tustin 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.

Large apartment complexes or high rise apartments are the single most common housing type in Tustin, accounting for 35.04% of the city's housing units. Other types of housing that are prevalent in Tustin include single-family detached homes ( 33.71%), duplexes, homes converted to apartments or other small apartment buildings ( 14.33%), and a few row houses and other attached homes ( 13.60%). This particular housing mix is relatively uncommon and characteristic of cities that are compact and walkable, and which often have a lively downtown.

People in Tustin primarily live in small (one, two or no bedroom) units, chiefly found in large apartment complexes or high rise apartments. Tustin has a mixture of owner-occupied and renter-occupied housing.

There is a lot of housing in Tustin 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 Tustin built between 1940-1969 ( 30.04%). A lesser amount of the housing stock also hails from between 2000 and later ( 10.00%). There's also some housing in Tustin built before 1939 ( 1.48%).

Tustin Home Appreciation Rates

Real estate appreciation rates in Tustin's have tracked to near the national average over the last then years, with the annual appreciation rate averaging -0.21% during the period.

Appreciation rates are so strong in Tustin that despite a nationwide downturn in the housing market, Tustin real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Tustin appreciation rates continue to be some of the highest in America, at 6.74%, which is higher than appreciation rates in 79.57% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Tustin. Tustin appreciation rates in the latest quarter were at 1.99%, which equates to an annual appreciation rate of 8.20%.

Importantly, this makes Tustin 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 Tustin's latest annual appreciation rate is lower than 60% 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 Tustin differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Tustin - 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 Tustin real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$634,969

Tustin, CA HOME PRICES

Value Range
> $1,271,000 6.4
$954,001 - $1,271,000 9.6
$636,001 - $954,000 28.5
$508,001 - $636,000 15.3
$381,001 - $508,000 13.9
$254,001 - $381,000 9.3
$127,001 - $254,000 5.5
$63,001 - $127,000 4.6
$0 - $63,000 6.9

High for CA
Very High for Nation

Value Relative to Nation Value Relative to State
3.42200867221376 27.5132275132275

Number Of Homes And Apartments:
25,340

Tustin Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
CA*
Compared To
America*
Latest Quarter:
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
Since 2000:
2000 Q1 - 2017 Q1
133.92% 5.05% 10 10
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$2,178 / per month

Homeownership Rate

Homeownership
Owners 50.09
Renters 49.91
Vacant 4.07

Housing Market Details

 

Age of Homes

AGE OF Tustin HOMES
2000 or Newer 10.0
1970 - 1999 58.5
1940 - 1969 30.0
1939 or Older 1.5

Types of Homes

TYPE OF Tustin HOMES
Single-Family 33.7
Townhomes 13.6
Small Apt. Buildings 14.3
Apt. Complexes 35.0
Mobile Homes 3.2
Other 0.1

Home Size

SIZE OF Tustin HOMES
No Bedroom 1.87
1 Bedroom 18.20
2 Bedrooms 34.42
3 Bedrooms 26.47
4 Bedrooms 14.86
5 or more bedrooms 4.17