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 31,544, 12,005 total housing units (homes and apartments), and a median house value of $962,004, real estate costs in Paso Robles 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 Paso Robles, accounting for 71.57% of the city's housing units. Other types of housing that are prevalent in Paso Robles include large apartment complexes or high rise apartments ( 12.81%), duplexes, homes converted to apartments or other small apartment buildings ( 7.95%), and a few row houses and other attached homes ( 6.53%).
The most prevalent building size and type in Paso Robles are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 60.78% owning and 39.22% renting.
There is a lot of housing in Paso Robles 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 Paso Robles built between 2000 and later ( 29.15%). A lesser amount of the housing stock also hails from between 1940-1969 ( 15.69%). There's also some housing in Paso Robles built before 1939 ( 4.01%).
In the last 10 years, Paso Robles has experienced some of the highest home appreciation rates of any community in the nation. Paso Robles real estate appreciated 127.23% over the last ten years, which is an average annual home appreciation rate of 8.55%, putting Paso Robles in the top 20% nationally for real estate appreciation. If you are a home buyer or real estate investor, Paso Robles definitely has a track record of being one of the best long term real estate investments in America through the last ten years.
Appreciation rates are so strong in Paso Robles that despite a nationwide downturn in the housing market, Paso Robles real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Paso Robles appreciation rates continue to be some of the highest in America, at 14.25%, which is higher than appreciation rates in 84.75% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Paso Robles. Paso Robles appreciation rates in the latest quarter were at 8.15%, which equates to an annual appreciation rate of 36.81%.
Importantly, NeighborhoodScout’s exclusive research found that Paso Robles's housing market shows one of the <a href="/blog/highest-appreciating-cities">top real estate appreciation rates in the U.S.A.</a> in the latest quarter, which may signal the city’s near-future real estate investment strength.
Relative to California, our data show that Paso Robles's latest annual appreciation rate is higher than 80% 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 Paso Robles differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Paso Robles - 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 Paso Robles real estate investment or home purchase decisions.
$962,004
for California
for nation
12,005
$2,729 / per month