West Hollywood, CA Real Estate Market

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 Q4 2021. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2020 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data

West Hollywood, CA Housing Market Trends

With a population of 35,757, 22,845 total housing units (homes and apartments), and a median house value of $1,104,320, 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 81.75% of the city's housing units. Other types of housing that are prevalent in West Hollywood include single-family detached homes ( 9.41%), duplexes, homes converted to apartments or other small apartment buildings ( 6.01%), and a few row houses and other attached homes ( 2.61%). 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. 80.31% 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 46.49% of the city's housing hails from this era. Other housing ages represented in West Hollywood include homes built between 1970-1999 ( 30.70%) and housing constructed before 1939 ( 16.39%). There's also some housing in West Hollywood built between 2000 and later ( 6.42%).

Vacant housing appears to be an issue in West Hollywood. Fully 10.42% 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.

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 95.16% over the last ten years, which is an average annual home appreciation rate of 6.92%, 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.

NeighborhoodScout's data show that during the latest twelve months, West Hollywood's appreciation rate, at 18.78%, has been at or slightly above the national average. In the latest quarter, West Hollywood's appreciation rate has been 6.94%, which annualizes to a rate of 30.76%.

Relative to California, our data show that West Hollywood's latest annual appreciation rate is lower than 70% 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:
$1,104,320

West Hollywood, CA HOME PRICES

> $1,248,000
32.4%
32.4%
$936,001 - $1,248,000
26.0%
26.0%
$624,001 - $936,000
33.1%
33.1%
$499,001 - $624,000
3.7%
3.7%
$374,001 - $499,000
2.2%
2.2%
$250,001 - $374,000
0.7%
0.7%
$125,001 - $250,000
0.2%
0.2%
$62,001 - $125,000
0.0%
0.0%
$0 - $62,000
1.7%
1.7%
0.0% 100.0%
% OF HOMES
Value Relative To State

Very High for Nation

Very High for CA

Value Relative To Nation

Number Of Homes And Apartments:
22,845

West Hollywood Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
CA*
Compared To
America*
Latest Quarter:
2021 Q3 - 2021 Q4
Last 12 Months:
2020 Q4 - 2021 Q4
Last 2 Years:
2019 Q4 - 2021 Q4
Last 5 Years:
2016 Q4 - 2021 Q4
Last 10 Years:
2011 Q4 - 2021 Q4
Since 2000:
2000 Q1 - 2021 Q4
212.57% 5.32%
9
10
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$2,728 / per month

Homeownership Rate

Owners
19.7%
19.7%
Renters
80.3%
80.3%
Vacant
10.4%
10.4%
0.0% 100.0%
% OF HOMES

Housing Market Details

 

Age of Homes

2000 or Newer
6.4%
6.4%
1970 - 1999
30.7%
30.7%
1940 - 1969
46.5%
46.5%
1939 or Older
16.4%
16.4%
0.0% 100.0%
% OF HOMES

Types of Homes

Single-Family
9.4%
9.4%
Townhomes
2.6%
2.6%
Small Apt. Buildings
6.0%
6.0%
Apt. Complexes
81.7%
81.7%
Mobile Homes
0.2%
0.2%
Other
0.0%
0.0%
0.0% 100.0%
% OF HOMES

Home Size

No Bedroom
11.6%
11.6%
1 Bedroom
46.7%
46.7%
2 Bedrooms
35.3%
35.3%
3 Bedrooms
5.3%
5.3%
4 Bedrooms
0.9%
0.9%
5 or more bedrooms
0.2%
0.2%
0.0% 100.0%
% OF HOMES