LIVING IN TUSTIN
Tustin is a larger medium-sized city located in the state of California. With a population of 79,795 people and 16 constituent neighborhoods, Tustin is the 104th largest community in California.
Housing costs in Tustin 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 where white-collar or blue-collar occupations dominate the local economy, Tustin is neither predominantly one nor the other. Instead, it has a mixed workforce of both white- and blue-collar jobs. Overall, Tustin is a city of professionals, sales and office workers, and managers. There are especially a lot of people living in Tustin who work in management occupations (11.97%), office and administrative support (11.51%), and sales jobs (11.07%).
Also of interest is that Tustin has more people living here who work in computers and math than 95% of the places in the US.
Another interesting thing about Tustin, despite not being a huge city, is that there is a relatively high proportion of people living here who are young, single, and upwardly-mobile professionals. This makes it a good choice for other relocating single professionals. Here, these young singles will find many others like themselves, with opportunities for friendships, socializing, romance, and fun.
The education level of Tustin ranks among the highest in the nation. Of the 25-and-older adult population in Tustin, 42.59% have at least a bachelor's degree. The typical US community has just 21.84% of its adults holding a bachelor's degree or graduate degree.
The per capita income in Tustin in 2010 was $36,982, which is upper middle income relative to California, and wealthy relative to the rest of the US. This equates to an annual income of $147,928 for a family of four. However, Tustin contains both very wealthy and poor people as well.
Tustin is an extremely ethnically-diverse city. The people who call Tustin 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 Tustin, accounting for 41.84% of the city’s residents (people of Hispanic or Latino origin can be of any race). The greatest number of Tustin residents report their race to be White, followed by Asian. Important ancestries of people in Tustin include German, Irish, English, Italian, and French.
Foreign born people are also an important part of Tustin's cultural character, accounting for 33.41% of the city’s population.
The most common language spoken in Tustin is English. Other important languages spoken here include Spanish and Chinese.
TUSTIN HOUSING MARKET INFORMATION
With a population of 79,795, 26,132 total housing units (homes and apartments), and a median house value of $704,463, real estate costs in Tustin 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 Tustin, accounting for 33.90% of the city's housing units. Other types of housing that are prevalent in Tustin include large apartment complexes or high rise apartments ( 33.78%), duplexes, homes converted to apartments or other small apartment buildings ( 14.69%), and a few row houses and other attached homes ( 14.50%).
People in Tustin primarily live in small (one, two or no bedroom) single-family detached homes. Tustin has a mixture of owner-occupied and renter-occupied housing.
There is a lot of housing in Tustin 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 Tustin built between 1940-1969 ( 28.94%). A lesser amount of the housing stock also hails from between 2000 and later ( 13.13%). There's also some housing in Tustin built before 1939 ( 1.54%).
TUSTIN HOME APPRECIATION RATES
In the last 10 years, Tustin has experienced some of the highest home appreciation rates of any community in the nation. Tustin real estate appreciated 60.27% over the last ten years, which is an average annual home appreciation rate of 4.83%, putting Tustin in the top 20% nationally for real estate appreciation. If you are a home buyer or real estate investor, Tustin 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, Tustin appreciation rates have trailed the rest of the nation. In the last twelve months, Tustin's appreciation rate has been 3.58%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Tustin were at 1.28%, which equates to an annual appreciation rate of 5.23%.
Relative to California, our data show that Tustin's latest annual appreciation rate is lower than 50% 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 Tustin differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Tustin - 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 Tustin 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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