Palos Verdes Estates, California Real Estate & Housing Market

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Palos Verdes Estates Housing Information

Index	Palos Verdes Estates	California	National
Median home price	$1,609,500	$409,300	$184,700
Median rent asked	$2,809	$1,297	$949
Avg. people per household	3.0	3.0	2.6
Owner occupied households	87.2%	54.1%	63.6%
Renter occupied households	12.8%	45.9%	36.4%

Above, you will see a summary of real estate in Palos Verdes Estates, CA. On average, homes in Palos Verdes Estates, CA cost $1,609,500, a value that is 293% higher than the average in California. In general terms, this results in Palos Verdes Estates, CA real estate being less affordable than California real estate. On average, people who rent houses in Palos Verdes Estates, CA pay $2,809; this value is 117% higher than the average amount renters pay in California. 87.2% of Palos Verdes Estates, CA residents own their own homes and, on average, each of the homes has 3.0 occupants. Palos Verdes Estates, CA real estate features a range of homes, which include everthing from large houses to small condos to stacked townhomes. Accessing real estate listings and homes that are up for sale in Palos Verdes Estates, CA is easy because in our search area shown above, we categorize real estate and homes based on location, price, and the number of bedrooms and bathrooms.

Palos Verdes Estates Home Affordability

It’s advisable to look at home affordability when trying to find the ideal place to find real estate in Palos Verdes Estates, CA. To estimate home affordability, one method is to use the ratio of home price to median household income. The Palos Verdes Estates, CA’s median home price stands at $1,609,500 while $200,766 is the value of the average household income. The resulting home price to income ratio, which is 8.0x, differs from the California average as the ratio is 25% higher than the state’s average. The average home price divided by the median home income results in the home affordability ratio. Considering the comparison between the home price and home income, homes in Palos Verdes Estates, CA are considered less expensive if the ratio of home price to income is lower. Besides the home price to median household income ratio, other considerable factors do apply in determining home affordability. Using the home affordability calculator displayed below can help determine the exact price that suits any budget when searching for real estate in Palos Verdes Estates, CA.

Nearby cities with low home prices

City, State	Population	Home Price	National Avg.
Willowbrook, CA	22,035	$246,800	34%
Compton, CA	97,740	$264,300	43%
Florence-Graham, CA	63,390	$267,800	45%
East Rancho Dominguez, CA	15,887	$277,800	50%
Paramount, CA	54,941	$283,400	53%
Palos Verdes Estates, CA	13,582	$1,609,500	771%

Cities with similar population

City, State	Population	Home Price	National Avg.
Newington, VA	13,583	$415,900	125%
Mountain Park, GA	13,580	$168,300	9%
Muscle Shoals, AL	13,585	$135,000	27%
Riviera Beach, MD	13,586	$246,500	33%
Henderson, TX	13,587	$118,600	36%
Palos Verdes Estates, CA	13,582	$1,609,500	771%

Source: The Palos Verdes Estates, CA housing data displayed above is derived from the 2016 United States Census Bureau American Community Survey (ACS).