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 113,783 people, 34,482 houses or apartments, and a median cost of homes of $818,616, real estate costs in Murrieta 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 Murrieta, accounting for 72.79% of the city's housing units. Other types of housing that are prevalent in Murrieta include large apartment complexes or high rise apartments ( 14.25%), mobile homes or trailers ( 4.51%), and a few row houses and other attached homes ( 4.26%).
Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Murrieta. Owner-occupied housing accounts for 67.12% of Murrieta's homes, and 56.65% have either three or four bedrooms, which is average sized relative to America.
Murrieta homes and real estate are some of the newest in America. 50.65% of Murrieta's housing was built since 2000, making the city have a very new look and feel. If you like the amenities of newer homes and subdivisions, then you will probably like what the Murrieta real estate market has to offer. Quite a bit of the housing here was also built between 1970-1999 ( 46.62%), and between 1940-1969 ( 2.32%).
Appreciation rates for homes in Murrieta have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 103.79%, which ranks in the top 40% nationwide. This equates to an annual average Murrieta house appreciation rate of 7.38%.
NeighborhoodScout's data show that during the latest twelve months, Murrieta's appreciation rate, at 5.81%, has been at or slightly above the national average. In the latest quarter, Murrieta's appreciation rate has been 2.37%, which annualizes to a rate of 9.83%.
Relative to California, our data show that Murrieta's latest annual appreciation rate is lower than 50% 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 Murrieta differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Murrieta - 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 Murrieta real estate investment or home purchase decisions.
$818,616
for California
for nation
34,482
$3,945 / per month