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 85,638, 30,298 total housing units (homes and apartments), and a median house value of $1,145,615, real estate costs in Lake Forest 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 Forest, accounting for 53.74% of the city's housing units. Other types of housing that are prevalent in Lake Forest include row houses and other attached homes ( 18.78%), large apartment complexes or high rise apartments ( 18.31%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 5.05%).
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 Forest. Owner-occupied housing accounts for 69.74% of Lake Forest's homes, and 55.23% have either three or four bedrooms, which is average sized relative to America.
There is a lot of housing in Lake Forest 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 Lake Forest built between 2000 and later ( 14.21%). A lesser amount of the housing stock also hails from between 1940-1969 ( 8.91%).
Appreciation rates for homes in Lake Forest have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 95.72%, which ranks in the top 40% nationwide. This equates to an annual average Lake Forest house appreciation rate of 6.95%.
Appreciation rates are so strong in Lake Forest that despite a nationwide downturn in the housing market, Lake Forest real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Lake Forest appreciation rates continue to be some of the highest in America, at 9.78%, which is higher than appreciation rates in 86.19% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Lake Forest. Lake Forest appreciation rates in the latest quarter were at 2.09%, which equates to an annual appreciation rate of 8.62%.
Relative to California, our data show that Lake Forest's latest annual appreciation rate is higher than 80% 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 Forest differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Lake Forest - 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 Forest real estate investment or home purchase decisions.
$1,145,615
for California
for nation
30,298
$4,262 / per month