West Hollywood, CA
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
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Highest Appreciating West Hollywood Neighborhoods Since 2000




West Hollywood, 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 Hollywood Housing Market Information

With a population of 36,222, 22,077 total housing units (homes and apartments), and a median house value of $673,822, real estate costs in West Hollywood 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 West Hollywood, accounting for 79.61% 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 ( 9.21%), single-family detached homes ( 8.82%), and a few row houses and other attached homes ( 2.20%). Cities with mostly row houses, apartments, and other high density housing types are relatively uncommon, and characteristic of compact cities that frequently have a downtown or other neighborhoods where amenities are within walking distance and a lot of street life can be seen.

West Hollywood is dominated by renter-occupied one, two, or no bedrooms apartments. 79.99% 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 52.29% of the city's housing hails from this era. Other housing ages represented in West Hollywood include homes built between 1970-1999 ( 25.16%) and housing constructed before 1939 ( 19.11%). There's also some housing in West Hollywood built between 2000 and later ( 3.45%).

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 18.00% over the last ten years, which is an average annual home appreciation rate of 1.67%, 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.

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 2.98%, 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 1.99%, which equates to an annual appreciation rate of 8.20%.

Importantly, this makes West Hollywood 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 Hollywood's latest annual appreciation rate is lower 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.

Average Home Values

 

Median Home Value:
$673,822

West Hollywood, CA HOME PRICES

Value Range
> $1,309,000 17.2
$982,001 - $1,309,000 16.8
$655,001 - $982,000 26.2
$524,001 - $655,000 14.5
$393,001 - $524,000 14.6
$262,001 - $393,000 4.0
$131,001 - $262,000 0.7
$65,001 - $131,000 0.2
$0 - $65,000 5.7

High for CA
Very High for Nation

Value Relative to Nation Value Relative to State
2.91222313371616 25.0

Number Of Homes And Apartments:
22,077

West Hollywood 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
151.78% 5.50% 10 10
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$2,005 / per month

Homeownership Rate

Homeownership
Owners 20.01
Renters 79.99
Vacant 8.00

Housing Market Details

 

Age of Homes

AGE OF West Hollywood HOMES
2000 or Newer 3.5
1970 - 1999 25.2
1940 - 1969 52.3
1939 or Older 19.1

Types of Homes

TYPE OF West Hollywood HOMES
Single-Family 8.8
Townhomes 2.2
Small Apt. Buildings 9.2
Apt. Complexes 79.6
Mobile Homes 0.0
Other 0.2

Home Size

SIZE OF West Hollywood HOMES
No Bedroom 9.48
1 Bedroom 46.58
2 Bedrooms 36.36
3 Bedrooms 6.33
4 Bedrooms 0.71
5 or more bedrooms 0.54