Costa Mesa, CA Real Estate Market
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 2024. Updated quarterly.
- Setting, Housing Stock, Homeownership: 2022 (latest available). Updated annually.
Methodology: NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data
Costa Mesa, CA Housing Market Trends
With 109,521 people, 41,407 houses or apartments, and a median cost of homes of $1,357,054, Costa Mesa house prices are not only among the most expensive in California, Costa Mesa real estate also is some of the most expensive in all of America.
Single-family detached homes are the single most common housing type in Costa Mesa, accounting for 39.52% of the city's housing units. Other types of housing that are prevalent in Costa Mesa include large apartment complexes or high rise apartments ( 34.52%), duplexes, homes converted to apartments or other small apartment buildings ( 13.74%), and a few row houses and other attached homes ( 9.56%).
People in Costa Mesa primarily live in small (one, two or no bedroom) single-family detached homes. Costa Mesa 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. Costa Mesa's housing was primarily built during this period, from the '40s through the '60s. A full 47.12% of the city's housing hails from this era. Other housing ages represented in Costa Mesa include homes built between 1970-1999 ( 41.07%) and housing constructed between 2000 and later ( 10.40%). There's also some housing in Costa Mesa built before 1939 ( 1.41%).
Costa Mesa Home Appreciation Rates
Appreciation rates for homes in Costa Mesa have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 92.65%, which ranks in the top 50% nationwide. This equates to an annual average Costa Mesa house appreciation rate of 6.78%.
Appreciation rates are so strong in Costa Mesa that despite a nationwide downturn in the housing market, Costa Mesa real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Costa Mesa appreciation rates continue to be some of the highest in America, at 10.59%, which is higher than appreciation rates in 89.64% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Costa Mesa. Costa Mesa appreciation rates in the latest quarter were at 2.09%, which equates to an annual appreciation rate of 8.62%.
Relative to California, our data show that Costa Mesa'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 Costa Mesa differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Costa Mesa - 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 Costa Mesa real estate investment or home purchase decisions.
Median Home Value
$1,357,054
Very High
for California
Very High
for nation
Number of Homes And Apartments:
41,407
CA
America
2024 Q1 - 2024 Q2
2023 Q2 - 2024 Q2
2022 Q2 - 2024 Q2
2019 Q2 - 2024 Q2
2014 Q2 - 2024 Q2
2000 Q1 - 2024 Q2
Average Market Rent:
$3,745 / per month