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 5,986 people, 2,459 houses or apartments, and a median cost of homes of $1,477,617, Solvang house prices are not only among the most expensive in California, Solvang 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 Solvang, accounting for 57.08% of the city's housing units. Other types of housing that are prevalent in Solvang include large apartment complexes or high rise apartments ( 27.27%), mobile homes or trailers ( 6.67%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 4.68%).
The most prevalent building size and type in Solvang are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 54.59% owning and 45.41% renting.
There is a lot of housing in Solvang 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 Solvang built between 1940-1969 ( 18.26%). A lesser amount of the housing stock also hails from between 2000 and later ( 9.68%). There's also some housing in Solvang built before 1939 ( 1.72%).
Appreciation rates for homes in Solvang have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 90.92%, which ranks in the top 50% nationwide. This equates to an annual average Solvang house appreciation rate of 6.68%.
Appreciation rates are so strong in Solvang that despite a nationwide downturn in the housing market, Solvang real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Solvang appreciation rates continue to be some of the highest in America, at 9.91%, which is higher than appreciation rates in 86.94% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Solvang. Solvang appreciation rates in the latest quarter were at 6.22%, which equates to an annual appreciation rate of 27.31%.
Importantly, this makes Solvang one of the highest appreciating communities in the nation for the latest quarter, and may signal the city's near-future real estate investment strength.
Relative to California, our data show that Solvang's latest annual appreciation rate is higher than 80% of the other cities and towns in California.
$1,477,617
for California
for nation
2,459
$3,086 / per month