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 11,142, 4,133 total housing units (homes and apartments), and a median house value of $781,800, real estate costs in Canyon Lake 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 Canyon Lake, accounting for 84.03% of the city's housing units. Other types of housing that are prevalent in Canyon Lake include duplexes, homes converted to apartments or other small apartment buildings ( 5.76%), row houses and other attached homes ( 4.69%), and a few large apartment complexes or high rise apartments ( 3.22%).
Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Canyon Lake. Owner-occupied housing accounts for 78.28% of Canyon Lake's homes, and 78.94% have either three or four bedrooms, which is average sized relative to America.
There is a lot of housing in Canyon Lake 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 Canyon Lake built between 2000 and later ( 11.92%). A lesser amount of the housing stock also hails from between 1940-1969 ( 2.18%).
In the last 10 years, Canyon Lake has experienced some of the highest home appreciation rates of any community in the nation. Canyon Lake real estate appreciated 131.43% over the last ten years, which is an average annual home appreciation rate of 8.75%, putting Canyon Lake in the top 20% nationally for real estate appreciation. If you are a home buyer or real estate investor, Canyon Lake definitely has a track record of being one of the best long term real estate investments in America through the last ten years.
Over the last year, Canyon Lake appreciation rates have trailed the rest of the nation. In the last twelve months, Canyon Lake's appreciation rate has been 2.62%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Canyon Lake were at 2.37%, which equates to an annual appreciation rate of 9.83%.
Relative to California, our data show that Canyon Lake's latest annual appreciation rate is lower than 70% of the other cities and towns in California.
$781,800
for California
for nation
4,133
$3,938 / per month