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 40,527 people, 15,351 houses or apartments, and a median cost of homes of $2,051,835, Rancho Palos Verdes house prices are not only among the most expensive in California, Rancho Palos Verdes 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 Rancho Palos Verdes, accounting for 75.66% of the city's housing units. Other types of housing that are prevalent in Rancho Palos Verdes include large apartment complexes or high rise apartments ( 15.63%), row houses and other attached homes ( 6.79%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 1.86%).
Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Rancho Palos Verdes. Owner-occupied housing accounts for 78.74% of Rancho Palos Verdes's homes, and 66.68% have either three or four bedrooms, which is average sized relative to America.
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. Rancho Palos Verdes's housing was primarily built during this period, from the '40s through the '60s. A full 62.30% of the city's housing hails from this era. Other housing ages represented in Rancho Palos Verdes include homes built between 1970-1999 ( 32.24%) and housing constructed between 2000 and later ( 3.86%). There's also some housing in Rancho Palos Verdes built before 1939 ( 1.60%).
Rancho Palos Verdes's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Rancho Palos Verdes during the period has been just 4.85%, which is lower than 80% of US communities.
Appreciation rates are so strong in Rancho Palos Verdes that despite a nationwide downturn in the housing market, Rancho Palos Verdes real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Rancho Palos Verdes appreciation rates continue to be some of the highest in America, at 12.33%, which is higher than appreciation rates in 94.32% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Rancho Palos Verdes. Rancho Palos Verdes 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 Rancho Palos Verdes'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 Rancho Palos Verdes differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Rancho Palos Verdes - 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 Rancho Palos Verdes real estate investment or home purchase decisions.
$2,051,835
for California
for nation
15,351
$5,789 / per month