Eureka, 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

Eureka, CA Housing Market Trends

With 26,710 people, 11,606 houses or apartments, and a median cost of homes of $359,214, Eureka real estate prices are well above average cost compared to national prices.

Single-family detached homes are the single most common housing type in Eureka, accounting for 59.45% of the city's housing units. Other types of housing that are prevalent in Eureka include duplexes, homes converted to apartments or other small apartment buildings ( 19.31%), large apartment complexes or high rise apartments ( 13.32%), and a few row houses and other attached homes ( 6.36%).

People in Eureka primarily live in small (one, two or no bedroom) single-family detached homes. Eureka has a mixture of owner-occupied and renter-occupied housing.

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. Eureka's housing was primarily built during this period, from the '40s through the '60s. A full 41.36% of the city's housing hails from this era. Other housing ages represented in Eureka include homes built before 1939 ( 30.84%) and housing constructed between 1970-1999 ( 24.09%). There's also some housing in Eureka built between 2000 and later ( 3.71%).

Vacant housing appears to be an issue in Eureka. Fully 10.15% of the housing stock is classified as vacant. Left unchecked, vacant Eureka homes and apartments can be a drag on the real estate market, holding Eureka 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.

Eureka Home Appreciation Rates

Appreciation rates for homes in Eureka have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 66.48%, which ranks in the top 30% nationwide. This equates to an annual average Eureka house appreciation rate of 5.23%.

Appreciation rates are so strong in Eureka that despite a nationwide downturn in the housing market, Eureka real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Eureka appreciation rates continue to be some of the highest in America, at 12.37%, which is higher than appreciation rates in 86.09% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Eureka. Eureka appreciation rates in the latest quarter were at 4.53%, which equates to an annual appreciation rate of 19.37%.

Importantly, this makes Eureka 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 Eureka's latest annual appreciation rate is higher 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 Eureka differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Eureka - 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 Eureka real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$359,214

Eureka, CA HOME PRICES

> $1,319,000
0.7%
0.7%
$989,001 - $1,319,000
0.9%
0.9%
$659,001 - $989,000
6.9%
6.9%
$527,001 - $659,000
7.4%
7.4%
$396,001 - $527,000
24.1%
24.1%
$264,001 - $396,000
44.0%
44.0%
$132,001 - $264,000
11.9%
11.9%
$66,001 - $132,000
0.5%
0.5%
$0 - $66,000
3.7%
3.7%
0.0% 100.0%
% OF HOMES
Value Relative To State

Very High for Nation

Low for CA

Value Relative To Nation

Number Of Homes And Apartments:
11,606

Eureka 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
165.70% 4.65%
8
10
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,340 / per month

Homeownership Rate

Owners
41.4%
41.4%
Renters
58.6%
58.6%
Vacant
10.1%
10.1%
0.0% 100.0%
% OF HOMES

Housing Market Details

 

Age of Homes

2000 or Newer
3.7%
3.7%
1970 - 1999
24.1%
24.1%
1940 - 1969
41.4%
41.4%
1939 or Older
30.8%
30.8%
0.0% 100.0%
% OF HOMES

Types of Homes

Single-Family
59.4%
59.4%
Townhomes
6.4%
6.4%
Small Apt. Buildings
19.3%
19.3%
Apt. Complexes
13.3%
13.3%
Mobile Homes
1.4%
1.4%
Other
0.2%
0.2%
0.0% 100.0%
% OF HOMES

Home Size

No Bedroom
5.8%
5.8%
1 Bedroom
19.2%
19.2%
2 Bedrooms
35.9%
35.9%
3 Bedrooms
28.0%
28.0%
4 Bedrooms
8.5%
8.5%
5 or more bedrooms
2.5%
2.5%
0.0% 100.0%
% OF HOMES