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.
Methodology: NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data
With a population of 1,291, 451 total housing units (homes and apartments), and a median house value of $996,986, real estate costs in Santa Margarita 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 Santa Margarita, accounting for 53.85% of the town's housing units. Other types of housing that are prevalent in Santa Margarita include mobile homes or trailers ( 46.15%).
People in Santa Margarita primarily live in small (one, two or no bedroom) single-family detached homes. Santa Margarita has a mixture of owner-occupied and renter-occupied housing.
There is a lot of housing in Santa Margarita 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 Santa Margarita built between 1940-1969 ( 19.72%). A lesser amount of the housing stock also hails from before 1939 ( 11.24%). There's also some housing in Santa Margarita built between 2000 and later ( 2.37%).
Vacant housing appears to be an issue in Santa Margarita. Fully 11.05% of the housing stock is classified as vacant. Left unchecked, vacant Santa Margarita homes and apartments can be a drag on the real estate market, holding Santa Margarita 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.
Appreciation rates for homes in Santa Margarita have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 98.24%, which ranks in the top 40% nationwide. This equates to an annual average Santa Margarita house appreciation rate of 7.08%.
Appreciation rates are so strong in Santa Margarita that despite a nationwide downturn in the housing market, Santa Margarita real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Santa Margarita appreciation rates continue to be some of the highest in America, at 10.13%, which is higher than appreciation rates in 87.92% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Santa Margarita. Santa Margarita appreciation rates in the latest quarter were at -0.15%, which equates to an annual appreciation rate of -0.60%.
Notably, Santa Margarita's appreciation rate in the latest quarter is one of the lowest in America.
Relative to California, our data show that Santa Margarita's latest annual appreciation rate is higher than 80% of the other cities and towns in California.
$996,986
for California
for nation
451
$1,823 / per month