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 18,985 people, 8,882 houses or apartments, and a median cost of homes of $2,602,709, Hermosa Beach house prices are not only among the most expensive in California, Hermosa Beach real estate also is some of the most expensive in all of America.
Single-family detached homes are the single most common housing type in Hermosa Beach, accounting for 43.29% of the city's housing units. Other types of housing that are prevalent in Hermosa Beach include large apartment complexes or high rise apartments ( 23.93%), duplexes, homes converted to apartments or other small apartment buildings ( 19.89%), and a few row houses and other attached homes ( 10.55%).
People in Hermosa Beach primarily live in small (one, two or no bedroom) single-family detached homes. Hermosa Beach has a mixture of owner-occupied and renter-occupied housing.
At the end of World War II, American soldiers returned home triumphant and, with the help of the GI Bill, built homes by the millions on the edges of America's cities. These homes were predominantly capes and ranches, modest in size, but built to house a growing middle-class as the 20th century became the American century. Hermosa Beach's housing was primarily built during this period, from the '40s through the '60s. A full 39.42% of the city's housing hails from this era. Other housing ages represented in Hermosa Beach include homes built between 1970-1999 ( 36.79%) and housing constructed before 1939 ( 12.02%). There's also some housing in Hermosa Beach built between 2000 and later ( 11.77%).
Vacant housing appears to be an issue in Hermosa Beach. Fully 14.00% of the housing stock is classified as vacant. Left unchecked, vacant Hermosa Beach homes and apartments can be a drag on the real estate market, holding Hermosa Beach real estate prices below levels they could achieve if vacant housing was absorbed into the market and became occupied. Housing vacancy rates are a useful measure to consider, along with other things, if you are a home buyer or a real estate investor.
Appreciation rates for homes in Hermosa Beach have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 114.20%, which ranks in the top 30% nationwide. This equates to an annual average Hermosa Beach house appreciation rate of 7.92%.
NeighborhoodScout's data show that during the latest twelve months, Hermosa Beach's appreciation rate, at 7.54%, has been at or slightly above the national average. In the latest quarter, Hermosa Beach's appreciation rate has been 2.09%, which annualizes to a rate of 8.62%.
Relative to California, our data show that Hermosa Beach's latest annual appreciation rate is higher than 60% of the other cities and towns in California.
$2,602,709
for California
for nation
8,882
$4,335 / per month