Long Beach Real Estate Market Overview
Average Monthly Rent:
$2,113
Percentage Change in Home Price/Value:
2.50%
Median Home Value:
$606,200
Best Time To Sell Home:
June
Affordability Index:
63.4
Days To Sell House:
55.83
Job Market:
Weak
Public School Ranking:
38
Location and Weather
When you hear the name Long Beach, you immediately think of whale watching off its Pacific coast, bicycle friendly streets, cultural activities, and beautiful beaches. Long Beach lies in San Pedro Bay, 22 miles south of Los Angeles. The city is known for its waterfront attractions, including the permanently docked RMS Queen Mary and the Aquarium of the Pacific. It also hosts the Grand Prix of Long Beach, which is an Indycar race.
It’s sunny year-round in Long Beach, with summers that have high temperatures in the 70’s and lows in the 60’s. Winters are cold and windy, with high temperatures in the 40’s and lows in the 20’s.
Population, Job Market and Cost of Living
Long Beach’s population in 2018 was 469,459, with a decline of .145%. The job growth has increased by .73% over the last year and in ten years, is predicted to be at 32.47%. As a major tourist destination, the biggest employers are Health Care, Educational Services, Accommodation and Food Services. The cost of living is high, due to the real estate market and increased cost of housing.
With it’s stunning location on the Pacific coast, proximity to Los Angeles, large tourism industry, increasing job growth, and a variety of cultural and outdoor activities, Long Beach will continue to grow, attracting tourists and residents alike.
