The housing market in Los Angeles, CA is incredibly expensive compared to the national average. The median value for a home in the city is $912,500, much higher than the US median at $338,100. However, this high price tag has been accompanied by steady appreciation over the past year of 10.60%, which is even greater than the national average of 8.27%. This makes it an excellent investment opportunity for those who can afford it and should attract buyers from all over the country.
The median home cost in Los Angeles is $912,500. Home appreciation the last 10 years has been 142.1%. Home Appreciation in Los Angeles is up 14.8%.
Average Age of Homes
- The median age of Los Angeles real estate is 56 years old
The Rental Market in Los Angeles
- Renters make up 58.5% of the Los Angeles population
- 2.9% of houses and apartments in Los Angeles, are available to rent
DID YOU KNOW
Buying a home is the biggest single purchase most people make during their lives. The second largest is most often an automobile.