West Hollywood, CA
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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West Hollywood, CA Real Estate Data


West Hollywood Housing Market Information

With 36,222 people, 21,808 houses or apartments, and a median cost of homes of $851,809, 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 79.91% of the city's housing units. Other types of housing that are prevalent in West Hollywood include duplexes, homes converted to apartments or other small apartment buildings ( 9.71%), single-family detached homes ( 8.47%), and a few row houses and other attached homes ( 1.77%). This particular housing mix is relatively uncommon and characteristic of cities that are compact and walkable, and which often have a lively downtown.

West Hollywood is dominated by renter-occupied one, two, or no bedrooms apartments. 78.02% 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 50.96% of the city's housing hails from this era. Other housing ages represented in West Hollywood include homes built between 1970-1999 ( 25.00%) and housing constructed before 1939 ( 20.42%). There's also some housing in West Hollywood built between 2000 and later ( 3.63%).

West Hollywood Home Appreciation Rates

In the last 10 years, West Hollywood has experienced some of the highest home appreciation rates of any community in the nation. West Hollywood real estate appreciated 26.70% over the last ten years, which is an average annual home appreciation rate of 2.39%, putting West Hollywood in the top 20% nationally for real estate appreciation. If you are a home buyer or real estate investor, West Hollywood definitely has a track record of being one of the best long term real estate investments in America through the last ten years.

Appreciation rates are so strong in West Hollywood that despite a nationwide downturn in the housing market, West Hollywood real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, West Hollywood appreciation rates continue to be some of the highest in America, at 7.97%, which is higher than appreciation rates in 91.29% 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 Hollywood. West Hollywood 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 West Hollywood's latest annual appreciation rate is higher than 80% 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.

Average Home Values

 

Median Home Value:
$851,809

West Hollywood, CA HOME PRICES

Value Range
> $1,417,000 17.0
$1,062,001 - $1,417,000 15.1
$708,001 - $1,062,000 26.2
$566,001 - $708,000 15.5
$425,001 - $566,000 13.8
$283,001 - $425,000 4.8
$142,001 - $283,000 2.9
$71,001 - $142,000 0.2
$0 - $71,000 4.6

Very High for CA
Very High for Nation

Value Relative to Nation Value Relative to State
1.70404637816947 16.6446499339498

Number Of Homes And Apartments:
21,808

Rent & Ownership

 

Average Market Rent:
$1,890 / per month

Homeownership Rate

Homeownership
Owners 21.98
Renters 78.02
Vacant 8.33

Housing Market Details

 

Age of Homes

AGE OF West Hollywood HOMES
2000 or Newer 3.6
1970 - 1999 25.0
1940 - 1969 51.0
1939 or Older 20.4

Types of Homes

TYPE OF West Hollywood HOMES
Single-Family 8.5
Townhomes 1.8
Small Apt. Buildings 9.7
Apt. Complexes 79.9
Mobile Homes 0.0
Other 0.1

Home Size

SIZE OF West Hollywood HOMES
No Bedroom 8.00
1 Bedroom 48.86
2 Bedrooms 35.49
3 Bedrooms 6.49
4 Bedrooms 0.61
5 or more bedrooms 0.54

West Hollywood 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
161.59% 5.82% 10 10
* 10 is highest