Cerritos, 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 Q2 2021. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2019 (latest available). Updated annually.

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

Cerritos, CA Housing Market Trends

With a population of 49,859, 15,378 total housing units (homes and apartments), and a median house value of $811,025, real estate costs in Cerritos 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.

Cerritos is a city of large, single-family homes. In fact, there is a higher proportion of four, five or more bedroom homes in Cerritos than is found in 98% of the communities in America.

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Cerritos. Owner-occupied housing accounts for 77.11% of Cerritos's homes, and 76.95% have either three or four bedrooms, which is average sized relative to America.

There is a lot of housing in Cerritos built from 1970 to 1999 so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in Cerritos built between 1940-1969 ( 35.53%). A lesser amount of the housing stock also hails from between 2000 and later ( 3.22%).

Cerritos Home Appreciation Rates

Appreciation rates for homes in Cerritos have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 53.39%, which ranks in the top 40% nationwide. This equates to an annual average Cerritos house appreciation rate of 4.37%.

Over the last year, Cerritos appreciation rates have trailed the rest of the nation. In the last twelve months, Cerritos's appreciation rate has been 7.36%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Cerritos were at 3.12%, which equates to an annual appreciation rate of 13.09%.

Relative to California, our data show that Cerritos'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 Cerritos differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Cerritos - 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 Cerritos real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$811,025

Cerritos, CA HOME PRICES

> $1,188,000
4.8%
4.8%
$891,001 - $1,188,000
31.0%
31.0%
$594,001 - $891,000
52.8%
52.8%
$475,001 - $594,000
5.2%
5.2%
$356,001 - $475,000
2.8%
2.8%
$237,001 - $356,000
1.0%
1.0%
$119,001 - $237,000
0.7%
0.7%
$59,001 - $119,000
0.9%
0.9%
$0 - $59,000
0.9%
0.9%
0.0% 100.0%
% OF HOMES
Value Relative To State

Very High for Nation

High for CA

Value Relative To Nation

Number Of Homes And Apartments:
15,378

Cerritos Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
CA*
Compared To
America*
Latest Quarter:
2021 Q1 - 2021 Q2
Last 12 Months:
2020 Q2 - 2021 Q2
Last 2 Years:
2019 Q2 - 2021 Q2
Last 5 Years:
2016 Q2 - 2021 Q2
Last 10 Years:
2011 Q2 - 2021 Q2
Since 2000:
2000 Q1 - 2021 Q2
167.11% 4.68%
8
10
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$4,011 / per month

Homeownership Rate

Owners
77.1%
77.1%
Renters
22.9%
22.9%
Vacant
4.7%
4.7%
0.0% 100.0%
% OF HOMES

Housing Market Details

 

Age of Homes

2000 or Newer
3.2%
3.2%
1970 - 1999
60.3%
60.3%
1940 - 1969
35.5%
35.5%
1939 or Older
1.0%
1.0%
0.0% 100.0%
% OF HOMES

Types of Homes

Single-Family
83.6%
83.6%
Townhomes
6.4%
6.4%
Small Apt. Buildings
3.4%
3.4%
Apt. Complexes
6.2%
6.2%
Mobile Homes
0.5%
0.5%
Other
0.0%
0.0%
0.0% 100.0%
% OF HOMES

Home Size

No Bedroom
2.5%
2.5%
1 Bedroom
3.8%
3.8%
2 Bedrooms
8.1%
8.1%
3 Bedrooms
33.5%
33.5%
4 Bedrooms
43.4%
43.4%
5 or more bedrooms
8.6%
8.6%
0.0% 100.0%
% OF HOMES