LIVING IN SIGNAL HILL
Signal Hill is a somewhat small city located in the state of California. With a population of 11,555 people and three constituent neighborhoods, Signal Hill is the 399th largest community in California.
Housing costs in Signal Hill 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.
Signal Hill is a decidedly white-collar city, with fully 88.03% of the workforce employed in white-collar jobs, well above the national average. Overall, Signal Hill is a city of professionals, managers, and sales and office workers. There are especially a lot of people living in Signal Hill who work in management occupations (12.86%), office and administrative support (11.27%), and sales jobs (9.90%).
One downside of living in Signal Hill is that it can take a long time to commute to work. In Signal Hill, the average commute to work is 32.58 minutes, which is quite a bit higher than the national average.
The citizens of Signal Hill are among the most well-educated in the nation: 40.54% of adults in Signal Hill 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 Signal Hill in 2010 was $37,553, which is upper middle income relative to California, and wealthy relative to the rest of the US. This equates to an annual income of $150,212 for a family of four. However, Signal Hill contains both very wealthy and poor people as well.
Signal Hill is an extremely ethnically-diverse city. The people who call Signal Hill 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 Signal Hill, accounting for 33.35% of the city’s residents (people of Hispanic or Latino origin can be of any race). The greatest number of Signal Hill residents report their race to be White, followed by Asian. Important ancestries of people in Signal Hill include English, Irish, German, Scottish, and French.
Foreign born people are also an important part of Signal Hill's cultural character, accounting for 25.11% of the city’s population.
The most common language spoken in Signal Hill is English. Other important languages spoken here include Spanish and Tagalog.
SIGNAL HILL HOUSING MARKET INFORMATION
With 11,555 people, 4,590 houses or apartments, and a median cost of homes of $474,311, real estate costs in Signal Hill 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.
Large apartment complexes or high rise apartments are the single most common housing type in Signal Hill, accounting for 34.48% of the city's housing units. Other types of housing that are prevalent in Signal Hill include single-family detached homes ( 32.89%), duplexes, homes converted to apartments or other small apartment buildings ( 17.69%), and a few row houses and other attached homes ( 14.69%). Cities with mostly row houses, apartments, and other high density housing types are relatively uncommon, and characteristic of compact cities that frequently have a downtown or other neighborhoods where amenities are within walking distance and a lot of street life can be seen.
People in Signal Hill primarily live in small (one, two or no bedroom) units, chiefly found in large apartment complexes or high rise apartments. Signal Hill has a mixture of owner-occupied and renter-occupied housing.
There is a lot of housing in Signal Hill 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 Signal Hill built between 1940-1969 ( 28.26%). A lesser amount of the housing stock also hails from between 2000 and later ( 19.23%). There's also some housing in Signal Hill built before 1939 ( 7.61%).
SIGNAL HILL HOME APPRECIATION RATES
In the last 10 years, Signal Hill has experienced some of the highest home appreciation rates of any community in the nation. Signal Hill real estate appreciated 56.53% over the last ten years, which is an average annual home appreciation rate of 4.58%, putting Signal Hill in the top 20% nationally for real estate appreciation. If you are a home buyer or real estate investor, Signal Hill 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, Signal Hill appreciation rates have trailed the rest of the nation. In the last twelve months, Signal Hill's appreciation rate has been 2.49%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Signal Hill were at 1.28%, which equates to an annual appreciation rate of 5.23%.
Relative to California, our data show that Signal Hill's latest annual appreciation rate is lower than 70% of the other cities and towns in California.
Reasons To Invest
- Increasing Rental Demand
- High Appreciation Rates
- Population Growth
- Growing Job Market
- Ethnically-Diverse City
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