Salinas, 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 Q1 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

Salinas, CA Housing Market Trends

With 155,465 people, 40,800 houses or apartments, and a median cost of homes of $482,605, real estate costs in Salinas 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 Salinas, accounting for 55.31% of the city's housing units. Other types of housing that are prevalent in Salinas include large apartment complexes or high rise apartments ( 25.98%), duplexes, homes converted to apartments or other small apartment buildings ( 8.71%), and a few row houses and other attached homes ( 6.16%).

The most prevalent building size and type in Salinas are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 44.37% owning and 55.63% renting.

There is a lot of housing in Salinas 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 Salinas built between 1940-1969 ( 35.46%). A lesser amount of the housing stock also hails from between 2000 and later ( 10.19%). There's also some housing in Salinas built before 1939 ( 5.86%).

Salinas Home Appreciation Rates

In the last 10 years, Salinas has experienced some of the highest home appreciation rates of any community in the nation. Salinas real estate appreciated 147.06% over the last ten years, which is an average annual home appreciation rate of 9.47%, putting Salinas in the top 10% nationally for real estate appreciation. If you are a home buyer or real estate investor, Salinas definitely has a track record of being one of the best long term real estate investments in America through the last ten years.

Appreciation rates are so strong in Salinas that despite a nationwide downturn in the housing market, Salinas real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Salinas appreciation rates continue to be some of the highest in America, at 10.34%, which is higher than appreciation rates in 91.63% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Salinas. Salinas appreciation rates in the latest quarter were at 2.67%, which equates to an annual appreciation rate of 11.11%.

Importantly, this makes Salinas 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 Salinas's latest annual appreciation rate is higher than 90% 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 Salinas differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Salinas - 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 Salinas real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$482,605

Salinas, CA HOME PRICES

> $1,291,000
0.8%
0.8%
$968,001 - $1,291,000
1.0%
1.0%
$646,001 - $968,000
17.8%
17.8%
$516,001 - $646,000
27.0%
27.0%
$387,001 - $516,000
25.7%
25.7%
$258,001 - $387,000
16.1%
16.1%
$129,001 - $258,000
4.5%
4.5%
$65,001 - $129,000
2.1%
2.1%
$0 - $65,000
4.9%
4.9%
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:
40,800

Salinas Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
CA*
Compared To
America*
Latest Quarter:
2020 Q4 - 2021 Q1
Last 12 Months:
2020 Q1 - 2021 Q1
Last 2 Years:
2019 Q1 - 2021 Q1
Last 5 Years:
2016 Q1 - 2021 Q1
Last 10 Years:
2011 Q1 - 2021 Q1
Since 2000:
2000 Q1 - 2021 Q1
100.76% 3.33%
2
8
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$2,022 / per month

Homeownership Rate

Owners
44.4%
44.4%
Renters
55.6%
55.6%
Vacant
3.7%
3.7%
0.0% 100.0%
% OF HOMES

Housing Market Details

 

Age of Homes

2000 or Newer
10.2%
10.2%
1970 - 1999
48.5%
48.5%
1940 - 1969
35.5%
35.5%
1939 or Older
5.9%
5.9%
0.0% 100.0%
% OF HOMES

Types of Homes

Single-Family
55.3%
55.3%
Townhomes
6.2%
6.2%
Small Apt. Buildings
8.7%
8.7%
Apt. Complexes
26.0%
26.0%
Mobile Homes
3.8%
3.8%
Other
0.0%
0.0%
0.0% 100.0%
% OF HOMES

Home Size

No Bedroom
3.1%
3.1%
1 Bedroom
13.9%
13.9%
2 Bedrooms
29.2%
29.2%
3 Bedrooms
35.7%
35.7%
4 Bedrooms
15.6%
15.6%
5 or more bedrooms
2.4%
2.4%
0.0% 100.0%
% OF HOMES