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 13,109, 4,652 total housing units (homes and apartments), and a median house value of $625,338, real estate costs in Grand Terrace 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 Grand Terrace, accounting for 59.02% of the city's housing units. Other types of housing that are prevalent in Grand Terrace include large apartment complexes or high rise apartments ( 19.34%), mobile homes or trailers ( 7.46%), and a few row houses and other attached homes ( 7.16%).
The most prevalent building size and type in Grand Terrace are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 62.72% owning and 37.28% renting.
There is a lot of housing in Grand Terrace built from 1970 to 1999 so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in Grand Terrace built between 1940-1969 ( 34.61%). A lesser amount of the housing stock also hails from between 2000 and later ( 10.38%).
In the last 10 years, Grand Terrace has experienced some of the highest home appreciation rates of any community in the nation. Grand Terrace real estate appreciated 117.66% over the last ten years, which is an average annual home appreciation rate of 8.09%, putting Grand Terrace in the top 20% nationally for real estate appreciation. If you are a home buyer or real estate investor, Grand Terrace definitely has a track record of being one of the best long term real estate investments in America through the last ten years.
Appreciation rates are so strong in Grand Terrace that despite a nationwide downturn in the housing market, Grand Terrace real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Grand Terrace appreciation rates continue to be some of the highest in America, at 8.33%, which is higher than appreciation rates in 73.64% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Grand Terrace. Grand Terrace appreciation rates in the latest quarter were at 2.37%, which equates to an annual appreciation rate of 9.83%.
Relative to California, our data show that Grand Terrace's latest annual appreciation rate is higher than 70% of the other cities and towns in California.
$625,338
for California
for nation
4,652
$3,002 / per month