West Covina, CA
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Highest Appreciating West Covina Neighborhoods Since 2000




West Covina, 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

West Covina Housing Market Information

With 108,484 people, 30,816 houses or apartments, and a median cost of homes of $503,622, real estate costs in West Covina 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 West Covina, accounting for 66.10% of the city's housing units. Other types of housing that are prevalent in West Covina include large apartment complexes or high rise apartments ( 19.40%), row houses and other attached homes ( 8.63%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 4.84%).

The most prevalent building size and type in West Covina are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 64.73% owning and 35.27% 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. West Covina's housing was primarily built during this period, from the '40s through the '60s. A full 54.58% of the city's housing hails from this era. Other housing ages represented in West Covina include homes built between 1970-1999 ( 39.75%) and housing constructed between 2000 and later ( 3.53%). There's also some housing in West Covina built before 1939 ( 2.15%).

West Covina Home Appreciation Rates

Real estate appreciation rates in West Covina's have tracked to near the national average over the last then years, with the annual appreciation rate averaging -0.27% during the period.

Appreciation rates are so strong in West Covina that despite a nationwide downturn in the housing market, West Covina real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, West Covina appreciation rates continue to be some of the highest in America, at 6.92%, which is higher than appreciation rates in 80.84% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in West Covina. West Covina appreciation rates in the latest quarter were at 1.99%, which equates to an annual appreciation rate of 8.20%.

Importantly, this makes West Covina 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 West Covina'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 West Covina differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in West Covina - 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 West Covina real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$503,622

West Covina, CA HOME PRICES

Value Range
> $1,297,000 2.4
$972,001 - $1,297,000 3.1
$648,001 - $972,000 15.5
$519,001 - $648,000 28.0
$389,001 - $519,000 34.2
$259,001 - $389,000 11.4
$130,001 - $259,000 2.1
$65,001 - $130,000 0.7
$0 - $65,000 2.7

High for CA
Very High for Nation

Value Relative to Nation Value Relative to State
5.82444626743232 39.4179894179894

Number Of Homes And Apartments:
30,816

West Covina 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
135.51% 5.09% 10 10
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,889 / per month

Homeownership Rate

Homeownership
Owners 64.73
Renters 35.27
Vacant 4.37

Housing Market Details

 

Age of Homes

AGE OF West Covina HOMES
2000 or Newer 3.5
1970 - 1999 39.7
1940 - 1969 54.6
1939 or Older 2.2

Types of Homes

TYPE OF West Covina HOMES
Single-Family 66.1
Townhomes 8.6
Small Apt. Buildings 4.8
Apt. Complexes 19.4
Mobile Homes 1.0
Other 0.1

Home Size

SIZE OF West Covina HOMES
No Bedroom 1.48
1 Bedroom 9.66
2 Bedrooms 18.77
3 Bedrooms 46.17
4 Bedrooms 20.56
5 or more bedrooms 3.35