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 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%).
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.
$637,618
for California
for nation
20,004
$3,228 / per month