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 90,689 people, 30,963 houses or apartments, and a median cost of homes of $377,419, Hemet real estate values are some of the lowest in California, although compared to real estate around the nation, Hemet homes are still considered rather expensive.
Single-family detached homes are the single most common housing type in Hemet, accounting for 52.16% of the city's housing units. Other types of housing that are prevalent in Hemet include mobile homes or trailers ( 24.46%), large apartment complexes or high rise apartments ( 12.16%), and a few row houses and other attached homes ( 5.54%).
People in Hemet primarily live in small (one, two or no bedroom) single-family detached homes. Hemet has a mixture of owner-occupied and renter-occupied housing.
There is a lot of housing in Hemet 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 Hemet built between 2000 and later ( 24.41%). A lesser amount of the housing stock also hails from between 1940-1969 ( 19.02%). There's also some housing in Hemet built before 1939 ( 2.25%).
In the last 10 years, Hemet has experienced some of the highest home appreciation rates of any community in the nation. Hemet real estate appreciated 156.71% over the last ten years, which is an average annual home appreciation rate of 9.89%, putting Hemet in the top 10% nationally for real estate appreciation. If you are a home buyer or real estate investor, Hemet 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, Hemet's appreciation rate, at 7.42%, has been at or slightly above the national average. In the latest quarter, Hemet's appreciation rate has been 2.37%, which annualizes to a rate of 9.83%.
Relative to California, our data show that Hemet'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 Hemet differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Hemet - 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 Hemet real estate investment or home purchase decisions.
$377,419
for California
for nation
30,963
$2,864 / per month