Mission Viejo, 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

Mission Viejo, CA Housing Market Trends

With 94,381 people, 33,567 houses or apartments, and a median cost of homes of $834,194, real estate costs in Mission Viejo 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.

Single-family detached homes are the single most common housing type in Mission Viejo, accounting for 70.98% of the city's housing units. Other types of housing that are prevalent in Mission Viejo include row houses and other attached homes ( 12.85%), large apartment complexes or high rise apartments ( 12.38%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 3.66%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Mission Viejo. Owner-occupied housing accounts for 75.63% of Mission Viejo's homes, and 63.73% have either three or four bedrooms, which is average sized relative to America.

There is a lot of housing in Mission Viejo 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 Mission Viejo built between 1940-1969 ( 12.81%). A lesser amount of the housing stock also hails from between 2000 and later ( 4.85%).

Mission Viejo Home Appreciation Rates

In the last 10 years, Mission Viejo has experienced some of the highest home appreciation rates of any community in the nation. Mission Viejo real estate appreciated 68.23% over the last ten years, which is an average annual home appreciation rate of 5.34%, putting Mission Viejo in the top 20% nationally for real estate appreciation. If you are a home buyer or real estate investor, Mission Viejo 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, Mission Viejo appreciation rates have trailed the rest of the nation. In the last twelve months, Mission Viejo's appreciation rate has been 7.16%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Mission Viejo were at 3.12%, which equates to an annual appreciation rate of 13.08%.

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

Average Home Values

 

Median Home Value:
$834,194

Mission Viejo, CA HOME PRICES

> $1,178,000
6.7%
6.7%
$883,001 - $1,178,000
30.8%
30.8%
$588,001 - $883,000
47.7%
47.7%
$471,001 - $588,000
7.8%
7.8%
$353,001 - $471,000
4.3%
4.3%
$235,001 - $353,000
1.4%
1.4%
$118,001 - $235,000
0.5%
0.5%
$59,001 - $118,000
0.4%
0.4%
$0 - $59,000
0.4%
0.4%
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:
33,567

Mission Viejo 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
152.26% 4.40%
7
10
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$4,186 / per month

Homeownership Rate

Owners
75.6%
75.6%
Renters
24.4%
24.4%
Vacant
4.4%
4.4%
0.0% 100.0%
% OF HOMES

Housing Market Details

 

Age of Homes

2000 or Newer
4.8%
4.8%
1970 - 1999
82.0%
82.0%
1940 - 1969
12.8%
12.8%
1939 or Older
0.3%
0.3%
0.0% 100.0%
% OF HOMES

Types of Homes

Single-Family
71.0%
71.0%
Townhomes
12.9%
12.9%
Small Apt. Buildings
3.7%
3.7%
Apt. Complexes
12.4%
12.4%
Mobile Homes
0.1%
0.1%
Other
0.1%
0.1%
0.0% 100.0%
% OF HOMES

Home Size

No Bedroom
1.4%
1.4%
1 Bedroom
6.2%
6.2%
2 Bedrooms
20.6%
20.6%
3 Bedrooms
36.4%
36.4%
4 Bedrooms
27.3%
27.3%
5 or more bedrooms
8.1%
8.1%
0.0% 100.0%
% OF HOMES