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 31,690 people, 11,624 houses or apartments, and a median cost of homes of $3,397,302, Menlo Park house prices are not only among the most expensive in California, Menlo Park real estate also is some of the most expensive in all of America.
Single-family detached homes are the single most common housing type in Menlo Park, accounting for 53.80% of the city's housing units. Other types of housing that are prevalent in Menlo Park include large apartment complexes or high rise apartments ( 28.65%), duplexes, homes converted to apartments or other small apartment buildings ( 9.20%), and a few row houses and other attached homes ( 7.97%).
The most prevalent building size and type in Menlo Park are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 53.21% owning and 46.79% renting.
At the end of World War II, American soldiers returned home triumphant and, with the help of the GI Bill, built homes by the millions on the edges of America's cities. These homes were predominantly capes and ranches, modest in size, but built to house a growing middle-class as the 20th century became the American century. Menlo Park's housing was primarily built during this period, from the '40s through the '60s. A full 54.16% of the city's housing hails from this era. Other housing ages represented in Menlo Park include homes built between 1970-1999 ( 24.77%) and housing constructed between 2000 and later ( 14.35%). There's also some housing in Menlo Park built before 1939 ( 6.71%).
Vacant housing appears to be an issue in Menlo Park. Fully 11.51% of the housing stock is classified as vacant. Left unchecked, vacant Menlo Park homes and apartments can be a drag on the real estate market, holding Menlo Park real estate prices below levels they could achieve if vacant housing was absorbed into the market and became occupied. Housing vacancy rates are a useful measure to consider, along with other things, if you are a home buyer or a real estate investor.
Some of the lowest real estate appreciation rates in America over the last ten years have been in Menlo Park, where house values have increased just 46.86%, which is annualized rate of 3.92%. This rate is lower than the appreciation rate found in 90% of the cities and towns in America.
Over the last year, Menlo Park appreciation rates have trailed the rest of the nation. In the last twelve months, Menlo Park's appreciation rate has been 3.73%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Menlo Park were at -0.78%, which equates to an annual appreciation rate of -3.08%.
Notably, Menlo Park's appreciation rate in the latest quarter is one of the lowest in America.
Relative to California, our data show that Menlo Park's latest annual appreciation rate is lower than 70% 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 Menlo Park differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Menlo Park - 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 Menlo Park real estate investment or home purchase decisions.
$3,397,302
for California
for nation
11,624
$5,161 / per month