LIVING IN CYPRESS
Cypress is a medium-sized city located in the state of California. With a population of 48,958 people and 11 constituent neighborhoods, Cypress is the 182nd largest community in California.
Housing costs in Cypress are among some of the highest in the nation, although real estate prices here don't compare to real estate prices in the most expensive communities in California.
Cypress is neither predominantly blue-collar nor white-collar, instead having a mixed workforce of both blue-collar and white-collar jobs. Overall, Cypress is a city of professionals, sales and office workers, and managers. There are especially a lot of people living in Cypress who work in office and administrative support (13.93%), management occupations (12.31%), and sales jobs (10.06%).
Also of interest is that Cypress has more people living here who work in computers and math than 95% of the places in the US.
One downside of living in Cypress, however, is that residents on average have to contend with a long commute, spending on average 31.99 minutes every day commuting to work.
The citizens of Cypress are among the most well-educated in the nation: 42.24% of adults in Cypress have a bachelor's degree or even advanced degree, whereas the average US city has 21.84% holding at least a bachelor's degree.
The per capita income in Cypress in 2010 was $37,262, which is upper middle income relative to California, and wealthy relative to the rest of the US. This equates to an annual income of $149,048 for a family of four. However, Cypress contains both very wealthy and poor people as well.
Cypress is an extremely ethnically-diverse city. The people who call Cypress home describe themselves as belonging to a variety of racial and ethnic groups. The greatest number of Cypress residents report their race to be White, followed by Asian. Cypress also has a sizeable Hispanic population (people of Hispanic origin can be of any race). People of Hispanic or Latino origin account for 19.48% of the city’s residents. Important ancestries of people in Cypress include German, Irish, English, Italian, and French.
Cypress also has a high percentage of its population that was born in another country: 28.98%.
The most common language spoken in Cypress is English. Other important languages spoken here include Korean and Spanish.
CYPRESS HOUSING MARKET INFORMATION
With 48,958 people, 15,824 houses or apartments, and a median cost of homes of $717,147, real estate costs in Cypress are among some of the highest in the nation, although house prices here don't compare to real estate prices in the most expensive California communities.
Single-family detached homes are the single most common housing type in Cypress, accounting for 62.68% of the city's housing units. Other types of housing that are prevalent in Cypress include row houses and other attached homes ( 16.21%), large apartment complexes or high rise apartments ( 15.94%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 3.53%).
Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Cypress. Owner-occupied housing accounts for 66.06% of Cypress's homes, and 65.39% have either three or four bedrooms, which is average sized relative to America.
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. Cypress's housing was primarily built during this period, from the '40s through the '60s. A full 47.68% of the city's housing hails from this era. Other housing ages represented in Cypress include homes built between 1970-1999 ( 46.17%) and housing constructed between 2000 and later ( 4.89%). There's also some housing in Cypress built before 1939 ( 1.26%).
CYPRESS HOME APPRECIATION RATES
In the last 10 years, Cypress has experienced some of the highest home appreciation rates of any community in the nation. Cypress real estate appreciated 50.59% over the last ten years, which is an average annual home appreciation rate of 4.18%, putting Cypress in the top 20% nationally for real estate appreciation. If you are a home buyer or real estate investor, Cypress definitely has a track record of being one of the best long term real estate investments in America through the last ten years.
Over the last year, Cypress appreciation rates have trailed the rest of the nation. In the last twelve months, Cypress's appreciation rate has been 3.25%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Cypress were at 1.28%, which equates to an annual appreciation rate of 5.23%.
Relative to California, our data show that Cypress's latest annual appreciation rate is lower 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 Cypress differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Cypress - 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 Cypress real estate investment or home purchase decisions.
Reasons To Invest
- Population Growth
- Increasing Rental Demand
- Growing Job Market
- Ethnically-Diverse City
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