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 320,764 people, 90,540 houses or apartments, and a median cost of homes of $639,522, real estate costs in Riverside 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 Riverside, accounting for 64.09% of the city's housing units. Other types of housing that are prevalent in Riverside include large apartment complexes or high rise apartments ( 23.00%), duplexes, homes converted to apartments or other small apartment buildings ( 5.77%), and a few row houses and other attached homes ( 4.45%).
The most prevalent building size and type in Riverside are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 52.71% owning and 47.29% renting.
There is a lot of housing in Riverside 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 Riverside built between 1940-1969 ( 31.97%). A lesser amount of the housing stock also hails from between 2000 and later ( 17.05%). There's also some housing in Riverside built before 1939 ( 7.02%).
In the last 10 years, Riverside has experienced some of the highest home appreciation rates of any community in the nation. Riverside real estate appreciated 119.24% over the last ten years, which is an average annual home appreciation rate of 8.17%, putting Riverside in the top 20% nationally for real estate appreciation. If you are a home buyer or real estate investor, Riverside 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, Riverside's appreciation rate, at 6.75%, has been at or slightly above the national average. In the latest quarter, Riverside's appreciation rate has been 2.37%, which annualizes to a rate of 9.83%.
Relative to California, our data show that Riverside's latest annual appreciation rate is higher than 60% 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 Riverside differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Riverside - 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 Riverside real estate investment or home purchase decisions.
$639,522
for California
for nation
90,540
$2,931 / per month