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 5,331, 2,163 total housing units (homes and apartments), and a median house value of $287,882, Lucerne Valley real estate values are some of the lowest in California, although compared to real estate around the nation, Lucerne Valley homes are still considered rather expensive.
Single-family detached homes are the single most common housing type in Lucerne Valley, accounting for 82.38% of the town's housing units. Other types of housing that are prevalent in Lucerne Valley include mobile homes or trailers ( 15.47%).
Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Lucerne Valley. Owner-occupied housing accounts for 65.15% of Lucerne Valley's homes, and 50.23% have either three or four bedrooms, which is average sized relative to America.
There is a lot of housing in Lucerne Valley 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 Lucerne Valley built between 1940-1969 ( 41.25%). A lesser amount of the housing stock also hails from between 2000 and later ( 13.02%). There's also some housing in Lucerne Valley built before 1939 ( 3.36%).
Vacant housing appears to be an issue in Lucerne Valley. Fully 18.38% of the housing stock is classified as vacant. Left unchecked, vacant Lucerne Valley homes and apartments can be a drag on the real estate market, holding Lucerne Valley 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.
In the last 10 years, Lucerne Valley has experienced some of the highest home appreciation rates of any community in the nation. Lucerne Valley real estate appreciated 140.58% over the last ten years, which is an average annual home appreciation rate of 9.18%, putting Lucerne Valley in the top 10% nationally for real estate appreciation. If you are a home buyer or real estate investor, Lucerne Valley definitely has a track record of being one of the best long term real estate investments in America through the last ten years.
NeighborhoodScout's data show that during the latest twelve months, Lucerne Valley's appreciation rate, at 7.18%, has been at or slightly above the national average. In the latest quarter, Lucerne Valley's appreciation rate has been 2.37%, which annualizes to a rate of 9.83%.
Relative to California, our data show that Lucerne Valley's latest annual appreciation rate is higher than 60% of the other cities and towns in California.
$287,882
for California
for nation
2,163
$1,821 / per month