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 3,073 people, 1,397 houses or apartments, and a median cost of homes of $377,349, Borrego Springs real estate values are some of the lowest in California, although compared to real estate around the nation, Borrego Springs homes are still considered rather expensive.
Single-family detached homes are the single most common housing type in Borrego Springs, accounting for 68.48% of the town's housing units. Other types of housing that are prevalent in Borrego Springs include mobile homes or trailers ( 19.24%), row houses and other attached homes ( 6.61%), and a few large apartment complexes or high rise apartments ( 4.46%).
Dwellings in Borrego Springs tend to be quite small (one, two, or no bedrooms) and owner occupied. In fact, 62.28% of the homes in Borrego Springs have two or fewer bedrooms.
There is a lot of housing in Borrego Springs 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 Borrego Springs built between 2000 and later ( 24.83%). A lesser amount of the housing stock also hails from between 1940-1969 ( 22.60%).
A decent proportion of the Borrego Springs housing stock is seasonally occupied. That is, homes and condos in Borrego Springs are occupied by people for a portion of the year - mainly for vacation purposes - and then locked up and left unoccupied for the remainder of the year as owners return to their primary residences. This characteristic of the Borrego Springs housing market speaks to its popularity as a vacation location of choice.
Appreciation rates for homes in Borrego Springs have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 117.26%, which ranks in the top 30% nationwide. This equates to an annual average Borrego Springs house appreciation rate of 8.07%.
Appreciation rates are so strong in Borrego Springs that despite a nationwide downturn in the housing market, Borrego Springs real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Borrego Springs appreciation rates continue to be some of the highest in America, at 21.51%, which is higher than appreciation rates in 96.43% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Borrego Springs. Borrego Springs appreciation rates in the latest quarter were at 6.14%, which equates to an annual appreciation rate of 26.92%.
Importantly, this makes Borrego Springs one of the highest appreciating communities in the nation for the latest quarter, and may signal the town's near-future real estate investment strength.
Relative to California, our data show that Borrego Springs's latest annual appreciation rate is higher than 90% of the other cities and towns in California.
$377,349
for California
for nation
1,397
$1,820 / per month