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 34,938, 22,984 total housing units (homes and apartments), and a median house value of $1,279,841, West Hollywood house prices are not only among the most expensive in California, West Hollywood real estate also is some of the most expensive in all of America.
Large apartment complexes or high rise apartments are the single most common housing type in West Hollywood, accounting for 81.07% of the city's housing units. Other types of housing that are prevalent in West Hollywood include single-family detached homes ( 8.77%), duplexes, homes converted to apartments or other small apartment buildings ( 7.67%), and a few row houses and other attached homes ( 2.29%). Cities that are predominantly high-density buildings are relatively uncommon in the US. Because of the density, these types of cities are often walkable and compact, and often have a lively downtown.
West Hollywood is dominated by renter-occupied one, two, or no bedrooms apartments. 80.21% of West Hollywood's dwellings are rentals.
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 Hollywood's housing was primarily built during this period, from the '40s through the '60s. A full 45.98% of the city's housing hails from this era. Other housing ages represented in West Hollywood include homes built between 1970-1999 ( 30.61%) and housing constructed before 1939 ( 16.36%). There's also some housing in West Hollywood built between 2000 and later ( 7.05%).
Vacant housing appears to be an issue in West Hollywood. Fully 10.61% of the housing stock is classified as vacant. Left unchecked, vacant West Hollywood homes and apartments can be a drag on the real estate market, holding West Hollywood 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 West Hollywood have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 91.21%, which ranks in the top 40% nationwide. This equates to an annual average West Hollywood house appreciation rate of 6.70%.
Over the last year, West Hollywood appreciation rates have trailed the rest of the nation. In the last twelve months, West Hollywood's appreciation rate has been 2.86%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in West Hollywood were at 2.98%, which equates to an annual appreciation rate of 12.46%.
Relative to California, our data show that West Hollywood's latest annual appreciation rate is higher than 90% 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 Hollywood differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in West Hollywood - 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 Hollywood real estate investment or home purchase decisions.
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