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Data on this report is based on areas within the legal city boundary, outlined in black on the map. Any additional neighborhoods shown on the map are associated with the city by name and are included for reference only.



Lake Elsinore, CA Real Estate Market

Source & Methodology

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

Lake Elsinore, CA Housing Market Trends

With a population of 71,898, 20,004 total housing units (homes and apartments), and a median house value of $637,618, real estate costs in Lake Elsinore 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 Lake Elsinore, accounting for 80.39% of the city's housing units. Other types of housing that are prevalent in Lake Elsinore include large apartment complexes or high rise apartments ( 9.22%), duplexes, homes converted to apartments or other small apartment buildings ( 4.20%), and a few row houses and other attached homes ( 3.32%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Lake Elsinore. Owner-occupied housing accounts for 70.17% of Lake Elsinore's homes, and 67.51% have either three or four bedrooms, which is average sized relative to America.

Lake Elsinore homes and real estate are some of the newest in America. 55.78% of Lake Elsinore's housing was built since 2000, making the city have a very new look and feel. If you like the amenities of newer homes and subdivisions, then you will probably like what the Lake Elsinore real estate market has to offer. Quite a bit of the housing here was also built between 1970-1999 ( 35.81%), and between 1940-1969 ( 6.55%). There's also some housing in Lake Elsinore built before 1939 ( 1.86%).

Lake Elsinore Home Appreciation Rates

In the last 10 years, Lake Elsinore has experienced some of the highest home appreciation rates of any community in the nation. Lake Elsinore real estate appreciated 134.28% over the last ten years, which is an average annual home appreciation rate of 8.89%, putting Lake Elsinore in the top 10% nationally for real estate appreciation. If you are a home buyer or real estate investor, Lake Elsinore definitely has a track record of being one of the best long term real estate investments in America through the last ten years.

NeighborhoodScout's data show that during the latest twelve months, Lake Elsinore's appreciation rate, at 7.09%, has been at or slightly above the national average. In the latest quarter, Lake Elsinore's appreciation rate has been 2.37%, which annualizes to a rate of 9.83%.

Relative to California, our data show that Lake Elsinore's latest annual appreciation rate is higher than 60% 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 Lake Elsinore differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Lake Elsinore - 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 Lake Elsinore real estate investment or home purchase decisions.

Average Home Values

Median Home Value

$637,618

Lake Elsinore, CA Home Prices
> $1,393,000
$1,045,001 - $1,393,000
$696,001 - $1,045,000
$557,001 - $696,000
$418,001 - $557,000
$279,001 - $418,000
$139,001 - $279,000
$69,001 - $139,000
$0 - $69,000
1.0%
1.0%
1.0%
1.0%
32.3%
32.3%
34.7%
34.7%
17.0%
17.0%
8.7%
8.7%
1.5%
1.5%
1.5%
1.5%
2.2%
2.2%
0% 100.0%
% of Homes
Average

for California

Very High

for nation

Number of Homes And Apartments:

20,004

Lake Elsinore Appreciation Rates

Rent & Ownership

Average Market Rent:

$3,228 / per month

Homeownership Rate

Owners
Renters
70.2%
70.2%
29.8%
29.8%
0% 100.0%
% of Homes

Vacancy Rate

Vacant
Occupied
4.6%
4.6%
95.4%
95.4%
0% 100.0%
% of Homes

Housing Market Details

Age of Homes

2000 or Newer
1970 - 1999
1940 - 1969
1939 or Older
55.8%
55.8%
35.8%
35.8%
6.5%
6.5%
1.9%
1.9%
0% 100.0%
% of Homes

Types of Homes

Single-Family
Townhomes
Small Apt. Buildings
Apt. Complexes
Mobile Homes
Other
80.4%
80.4%
3.3%
3.3%
4.2%
4.2%
9.2%
9.2%
2.8%
2.8%
0.1%
0.1%
0% 100.0%
% of Homes

Home Size

No Bedroom
1 Bedroom
2 Bedrooms
3 Bedrooms
4 Bedrooms
5 or more bedrooms
2.7%
2.7%
6.6%
6.6%
12.2%
12.2%
32.2%
32.2%
35.4%
35.4%
11.0%
11.0%
0% 100.0%
% of Homes