In the early months of the COVID-19 pandemic, U.S. home sales slumped. Since then, however, the market has come roaring back — and rising demand, in conjunction with a relatively low supply of housing, has caused home values to surge.
According to estimates from Zillow, a Seattle-based real estate data company, between March 2020 and March 2021, the typical single-family American home appreciated in value from $250,179 to $276,717, a 10.6% increase. Of course, housing markets also respond more to local forces, and not all parts of the country followed the national pattern.
In Grand Terrace, a city of about 12,500 residents in California’s Riverside-San Bernardino-Ontario metro area, home values are rising even faster than they are nationwide. The typical single family home in Grand Terrace was worth $454,055 as of March 2021, 15.1% more than what it was worth one year ago.
One factor that can contribute to rapidly climbing home prices at a local level is demand. And demand for housing is often precipitated by a growing population. According to the most recent available Census data, over the last one-year period, Grand Terrace’s population increased by 0.2%.
Nationwide, the typical home value is about 4.4 times higher than the median household income of $62,843. In Grand Terrace, housing is generally less affordable. The typical single-family home value is about 6.3 times higher than the local median household income of $71,788.
Here are the 71 communities with populations of at least 10,000 in California where home values climbed the most in the last year.
This is How Much Home You Can Buy For 200K in Every State
Rank in state | Place | 1-yr. increase in typical home value | Current typical home value ($) | 1-yr. change in median income | Current median household income ($) |
---|---|---|---|---|---|
1 | Truckee | 24.0% | 856,853 | 3.5% | 97,092 |
2 | South Lake Tahoe | 23.6% | 557,666 | 1.5% | 49,390 |
3 | Twentynine Palms | 21.2% | 188,545 | 6.1% | 44,226 |
4 | Big Bear City | 20.7% | 323,418 | 6.2% | 51,875 |
5 | Winton | 20.5% | 278,423 | 4.8% | 45,858 |
6 | Grass Valley | 20.4% | 497,083 | 5.3% | 37,548 |
7 | Santa Paula | 20.4% | 565,100 | 6.3% | 60,468 |
8 | Calexico | 19.8% | 288,942 | 6.5% | 43,592 |
9 | Placerville | 19.6% | 472,248 | 3.3% | 59,247 |
10 | Spring Valley | 19.1% | 597,869 | 4.9% | 72,178 |
11 | El Dorado Hills | 18.9% | 772,181 | 4.7% | 137,726 |
12 | Diamond Springs | 18.7% | 395,561 | 3.9% | 62,370 |
13 | Farmersville | 18.5% | 223,697 | 3.5% | 39,720 |
14 | Lemon Grove | 18.4% | 586,480 | 2.5% | 63,548 |
15 | Santee | 18.2% | 635,785 | 4.3% | 87,098 |
16 | La Mesa | 18.1% | 698,857 | 3.3% | 66,051 |
17 | Lakeside | 18.1% | 638,285 | 3.3% | 74,823 |
18 | Isla Vista | 17.8% | 1,120,694 | 6.8% | 24,545 |
19 | Rodeo | 17.8% | 549,961 | 7.5% | 74,688 |
20 | Chula Vista | 17.4% | 651,623 | 6.4% | 81,272 |
21 | National City | 17.0% | 534,280 | 2.4% | 47,119 |
22 | Barstow | 16.9% | 180,436 | 2.6% | 40,633 |
23 | California City | 16.9% | 196,676 | 1.6% | 49,022 |
24 | Stockton | 16.8% | 368,007 | 6.4% | 54,614 |
25 | Yucca Valley | 16.6% | 277,585 | -1.1% | 44,757 |
26 | Lake Elsinore | 16.3% | 447,581 | 5.6% | 71,476 |
27 | Pinole | 16.2% | 608,546 | 10.6% | 100,315 |
28 | Atwater | 16.2% | 326,458 | 6.0% | 55,674 |
29 | Florin | 16.2% | 347,168 | 4.2% | 44,618 |
30 | Cathedral City | 16.2% | 383,728 | 0.3% | 46,521 |
31 | Exeter | 16.1% | 279,875 | -3.3% | 44,602 |
32 | Bloomington | 16.1% | 409,684 | 0.6% | 52,085 |
33 | El Centro | 16.1% | 280,491 | 3.0% | 47,864 |
34 | El Cajon | 16.0% | 634,033 | 5.2% | 55,309 |
35 | La Riviera | 15.9% | 422,136 | 1.4% | 64,518 |
36 | Wildomar | 15.9% | 498,103 | 2.3% | 74,991 |
37 | Rio Linda | 15.9% | 379,277 | 12.9% | 70,825 |
38 | El Sobrante | 15.8% | 679,148 | 4.4% | 120,049 |
40 | Hesperia | 15.7% | 342,678 | 0.3% | 53,561 |
41 | Victorville | 15.7% | 321,403 | 6.4% | 53,957 |
42 | San Bernardino | 15.6% | 371,183 | 6.3% | 45,834 |
43 | Manteca | 15.6% | 498,836 | 5.2% | 72,867 |
44 | Lathrop | 15.6% | 516,313 | 3.8% | 85,805 |
45 | Tracy | 15.6% | 616,555 | 4.1% | 92,046 |
46 | San Jacinto | 15.6% | 353,084 | 3.0% | 52,009 |
47 | San Anselmo | 15.5% | 1,484,897 | 2.4% | 128,212 |
48 | Rosamond | 15.4% | 312,837 | 9.8% | 61,807 |
49 | Vista | 15.4% | 652,169 | 9.8% | 72,125 |
50 | Murrieta | 15.4% | 525,146 | 6.7% | 90,535 |
51 | Ukiah | 15.4% | 456,556 | 5.8% | 49,889 |
52 | San Pablo | 15.3% | 525,339 | 8.1% | 53,198 |
53 | Muscoy | 15.3% | 357,215 | 11.9% | 46,969 |
54 | Rosemont | 15.3% | 409,604 | 7.8% | 69,794 |
55 | Lindsay | 15.3% | 236,351 | 1.7% | 31,489 |
56 | Desert Hot Springs | 15.2% | 273,706 | -5.1% | 33,046 |
57 | Delhi | 15.2% | 320,948 | 9.4% | 63,081 |
58 | Phelan | 15.2% | 349,304 | 6.5% | 59,375 |
59 | Escondido | 15.2% | 638,874 | 2.8% | 64,038 |
60 | Visalia | 15.1% | 292,557 | 5.9% | 62,263 |
61 | Rialto | 15.1% | 446,064 | 6.0% | 61,518 |
62 | Poway | 15.1% | 872,296 | 2.1% | 107,902 |
63 | Fillmore | 15.1% | 542,534 | 13.2% | 76,590 |
64 | Bonita | 15.1% | 817,481 | 7.4% | 99,427 |
65 | Palm Springs | 15.1% | 490,112 | 6.1% | 53,441 |
66 | Grand Terrace | 15.1% | 454,055 | 7.3% | 71,788 |
67 | Canyon Lake | 15.0% | 525,332 | 3.5% | 100,682 |
68 | Lodi | 15.0% | 433,029 | 8.1% | 58,763 |
69 | Merced | 15.0% | 304,844 | 6.1% | 45,232 |
70 | Hemet | 15.0% | 327,299 | 1.4% | 39,726 |
71 | Menifee | 15.0% | 430,870 | 6.8% | 70,224 |
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