Long Beach, 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 2020. 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

Long Beach, CA Housing Market Trends

With 462,628 people, 166,813 houses or apartments, and a median cost of homes of $561,863, real estate costs in Long Beach 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 Long Beach, accounting for 40.82% of the city's housing units. Other types of housing that are prevalent in Long Beach include single-family detached homes ( 39.87%), duplexes, homes converted to apartments or other small apartment buildings ( 13.54%), and a few row houses and other attached homes ( 4.36%). 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.

People in Long Beach primarily live in small (one, two or no bedroom) units, chiefly found in large apartment complexes or high rise apartments. Long Beach 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. Long Beach's housing was primarily built during this period, from the '40s through the '60s. A full 50.16% of the city's housing hails from this era. Other housing ages represented in Long Beach include homes built between 1970-1999 ( 25.90%) and housing constructed before 1939 ( 19.54%). There's also some housing in Long Beach built between 2000 and later ( 4.41%).

Long Beach Home Appreciation Rates

In the last 10 years, Long Beach has experienced some of the highest home appreciation rates of any community in the nation. Long Beach real estate appreciated 85.40% over the last ten years, which is an average annual home appreciation rate of 6.37%, putting Long Beach in the top 10% nationally for real estate appreciation. If you are a home buyer or real estate investor, Long Beach 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, Long Beach appreciation rates have trailed the rest of the nation. In the last twelve months, Long Beach's appreciation rate has been 4.90%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Long Beach were at 1.52%, which equates to an annual appreciation rate of 6.21%.

Notably, Long Beach's appreciation rate in the latest quarter is one of the lowest in America.

Relative to California, our data show that Long Beach's latest annual appreciation rate is lower than 60% 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 Long Beach differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Long Beach - 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 Long Beach real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$561,863

Long Beach, CA HOME PRICES

> $1,201,000
6.2%
6.2%
$901,001 - $1,201,000
9.2%
9.2%
$600,001 - $901,000
29.2%
29.2%
$480,001 - $600,000
21.4%
21.4%
$360,001 - $480,000
19.9%
19.9%
$240,001 - $360,000
8.4%
8.4%
$120,001 - $240,000
2.5%
2.5%
$60,001 - $120,000
0.8%
0.8%
$0 - $60,000
2.4%
2.4%
0.0% 100.0%
% OF HOMES
Value Relative To State

Very High for Nation

Average for CA

Value Relative To Nation

Number Of Homes And Apartments:
166,813

Long Beach Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
CA*
Compared To
America*
Latest Quarter:
2020 Q3 - 2020 Q4
Last 12 Months:
2019 Q4 - 2020 Q4
Last 2 Years:
2018 Q4 - 2020 Q4
Last 5 Years:
2015 Q4 - 2020 Q4
Last 10 Years:
2010 Q4 - 2020 Q4
Since 2000:
2000 Q1 - 2020 Q4
209.38% 5.53%
10
10
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$2,005 / per month

Homeownership Rate

Owners
39.1%
39.1%
Renters
60.9%
60.9%
Vacant
5.1%
5.1%
0.0% 100.0%
% OF HOMES

Housing Market Details

 

Age of Homes

2000 or Newer
4.4%
4.4%
1970 - 1999
25.9%
25.9%
1940 - 1969
50.2%
50.2%
1939 or Older
19.5%
19.5%
0.0% 100.0%
% OF HOMES

Types of Homes

Single-Family
39.9%
39.9%
Townhomes
4.4%
4.4%
Small Apt. Buildings
13.5%
13.5%
Apt. Complexes
40.8%
40.8%
Mobile Homes
1.2%
1.2%
Other
0.2%
0.2%
0.0% 100.0%
% OF HOMES

Home Size

No Bedroom
8.3%
8.3%
1 Bedroom
24.7%
24.7%
2 Bedrooms
34.9%
34.9%
3 Bedrooms
24.0%
24.0%
4 Bedrooms
6.4%
6.4%
5 or more bedrooms
1.6%
1.6%
0.0% 100.0%
% OF HOMES