According to statistics, the population in Torrance, CA amounts to 147,190, which shows decline 0% compared to the previous year. The median age of the city’s residents is 42. The average household income is $85,070, shifting growth 5% from the past year, and the average property value in Torrance, CA growth 5% to $687,900 throughout the year.
|Number Of Employees||72,783|
|Median Property Value||$687,900|
The average household income in Torrance, CA grew from $80,862 to $85,070 in the past year. This data is an estimate based upon 54,904 households in Torrance, CA . The chart below presents how household income is distributed in Torrance, CA in comparison to the revenue allocation amid households nationally.
According to data from last year, the average property value in Torrance, CA shifted from $652,600 to $687,900 throughout the year. The subsequent graph indicates the share of properties in the given price range in Torrance, CA in comparison to the median property value in the same price segment across the country. According to the data, the greatest share of Torrance, CA properties falls in the '$500,000 to $749,999' range, which is higher than the most significant median property across the country.
One of the most important aspects for property owners is the amount of property taxes. This graph shows distribution of property taxes in Torrance, CA compared to median property taxes around the country. The prevalent amount of property taxes in Torrance, CA equals $3000, which is less than the national average.
|May||vs Last Month|
|4+ bed apartments||$1,515,024||+21.3%|
During May 2023, the average price for an apartment in/near Torrance, CA decreased by 0.6% to $1,012,906.
Knowing the current property prices is key if you plan to buy a studio in Torrance, CA. The average price for a studio has decreased since the last month, currently being $126,986. After collecting all data points, we now see that the average price for 1-bed apartment increased by 22.6% to $527,000. Asking price for 2-bed apartment also decreased by 10.3% and a place of this size will now cost you $675,984. A 3-bed apartment goes for $1,045,885, it decreased by 6.7% lately. We discerned the rise of 4- and more bed apartment price. It increased by 21.3% and made it up to $1,515,024.
|May||vs Last Month|
|Condos for sale||$756,539||-5.4%|
|Apartments for sale||$126,986||-45.8%|
|Houses for sale||$1,261,884||+2.7%|
The average cost of an apartment in Torrance, CA decreased by 45.8% to $126,986. Price reports demonstrate that house price increased by 2.7% this month making it up to $1,261,884. Condos faced an upward trend these days. The median price for a condo decreased by 5.4%, it’s now available for $756,539.