Morro Bay, CA is an affluent city with a median housing value of $906,200, which is significantly higher than the national median housing value of $338,100. In the past year alone, the US house appreciation rate has increased 8.27%, while Morro Bay's house appreciation rate stands at 11.64%, demonstrating that the city is truly an attractive place to live and invest in real estate. Property values are expected to continue to rise in Morro Bay over the next few years due to its desirable coastal location and strong local economy.
The median home cost in Morro Bay is $906,200. Home appreciation the last 10 years has been 119.8%. Home Appreciation in Morro Bay is up 14.2%.
Average Age of Homes
- The median age of Morro Bay real estate is 42 years old
The Rental Market in Morro Bay
- Renters make up 40.2% of the Morro Bay population
- 1.5% of houses and apartments in Morro Bay, 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.