LIVING IN PLACENTIA
Placentia is a larger medium-sized city located in the state of California. With a population of 51,671 people and ten constituent neighborhoods, Placentia is the 171st largest community in California.
Housing costs in Placentia 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.
Unlike some cities, Placentia isn’t mainly white- or blue-collar. Instead, the most prevalent occupations for people in Placentia are a mix of both white- and blue-collar jobs. Overall, Placentia is a city of sales and office workers, professionals, and managers. There are especially a lot of people living in Placentia who work in office and administrative support (13.32%), management occupations (12.62%), and sales jobs (11.97%).
Also of interest is that Placentia has more people living here who work in computers and math than 95% of the places in the US.
The education level of Placentia citizens is very high relative to the national average among all cities (21.84%): 38.57% of adults in Placentia have a bachelor's degree or even advanced degree.
The per capita income in Placentia in 2010 was $36,499, which is upper middle income relative to California, and wealthy relative to the rest of the US. This equates to an annual income of $145,996 for a family of four. However, Placentia contains both very wealthy and poor people as well.
Placentia is an extremely ethnically-diverse city. The people who call Placentia home describe themselves as belonging to a variety of racial and ethnic groups. People of Hispanic or Latino origin are the most prevalent group in Placentia, accounting for 39.40% of the city’s residents (people of Hispanic or Latino origin can be of any race). The greatest number of Placentia residents report their race to be White, followed by Asian. Important ancestries of people in Placentia include German, Irish, English, Italian, and French.
In addition, Placentia has a lot of people living here who were born outside of the US (24.13%).
The most common language spoken in Placentia is English. Other important languages spoken here include Spanish and Chinese.
PLACENTIA HOUSING MARKET INFORMATION
With a population of 51,671, 16,577 total housing units (homes and apartments), and a median house value of $722,679, real estate costs in Placentia 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 Placentia, accounting for 60.19% of the city's housing units. Other types of housing that are prevalent in Placentia include large apartment complexes or high rise apartments ( 16.66%), row houses and other attached homes ( 12.20%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 7.20%).
The most prevalent building size and type in Placentia are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 64.21% owning and 35.79% renting.
There is a lot of housing in Placentia 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 Placentia built between 1940-1969 ( 32.96%). A lesser amount of the housing stock also hails from between 2000 and later ( 9.97%). There's also some housing in Placentia built before 1939 ( 2.80%).
PLACENTIA HOME APPRECIATION RATES
In the last 10 years, Placentia has experienced some of the highest home appreciation rates of any community in the nation. Placentia real estate appreciated 50.66% over the last ten years, which is an average annual home appreciation rate of 4.18%, putting Placentia in the top 20% nationally for real estate appreciation. If you are a home buyer or real estate investor, Placentia 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, Placentia appreciation rates have trailed the rest of the nation. In the last twelve months, Placentia's appreciation rate has been 2.89%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Placentia were at 1.28%, which equates to an annual appreciation rate of 5.23%.
Relative to California, our data show that Placentia'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 Placentia differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Placentia - 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 Placentia real estate investment or home purchase decisions.
Reasons To Invest
- Increasing Rental Demand
- High Appreciation Rates
- Population Growth
- Growing Job Market
- Ethnically-Diverse City
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