See which Fresno/Clovis ZIP codes saw the highest increase in home values for the decade
As the decade of the 2010s came to an end, the economic recovery that followed the 2007-09 recession helped buoy single-family home values in the Fresno/Clovis area – in some cases, by 30, 60 or 80% or more over the past 10 years.
Data from Zillow.com’s Home Value Index from January 2010 through November 2019 indicates that, while property values vary from one home to another within a ZIP code, values generally increased by between $90,000 and $150,000 over the course of the decade depending on the neighborhood.
The ZIP code with the greatest percentage increase was 93725, which includes the communities of Calwa and Malaga at the southern edge of Fresno and stretches southward into rural parts of Fresno County east of Highway 41. There, Zillow estimated that values rose by an average of more than 120%. Mathematically, that ZIP code began the decade with the lowest overall values, at just over $95,000. By last month, that had climbed to almost $210,000 – still lower than any other Fresno-area ZIP code for which sufficient data was available.
By contrast, the neighborhood that started the 2010s with the highest value, ZIP code 93730 in northeast Fresno, also wrapped up the decade with the highest value. In January 2010, the value index was estimated by Zillow.com at about $349,000. Now the estimate is just over $458,000. That’s an increase of almost $110,000, but it’s also the smallest percentage increase from the start of the decade at less than 32%.
Overall, the city of Fresno ranked second to Riverside among California’s 10 largest cities for the highest percentage increase in citywide home values. Fresno’s estimated rise from about $145,000 in 2010 to more than $256,000 last month represented growth of more than 76%. Riverside, in Southern California’s Inland Empire, saw values grow by an estimated 77.2% over the decade.
Still, that ranks Fresno’s citywide home values as the second lowest among the biggest cities in the state according to the Zillow index:
- San Francisco, $1.44 million, up 49.2 for the decade.
- San Jose, $1.06 million, up 36.8%.
- Oakland, $800,000, up 48.2%.
- Los Angeles, $746,000, up 72.2%.
- San Diego, $710,000, up 53.8%.
- Long Beach, $641,000, up 54.7%.
- Riverside, $422,000, up 77.2%.
- Sacramento, $348,000, up 62.8%.
- Fresno, $256,000, up 76.3%.
- Bakersfield, $252,000, up 45.9%.
Rents also rose
The prices that Fresnans pay in rent for apartments also climbed throughout the 2010s, according to Zillow’s rent index, which estimates the average market-rate rents in a market.
Fresno remains one of the least expensive of California’s larger cities to rent an apartment. The Zillow data indicates that the average apartment rent in November was about $1,006 per month – although rents can vary widely based on factors including amount of square feet in a unit, number of bedrooms, amenities, age and location of a rental unit.
That’s up almost 41% from a starting point of $715 in mid-2012, when Zillow launched its rental index tool. But Fresno’s rate of rent increase was not as high as some other big California cities, where rents in many cases started off much higher than Fresno and ended the decade with even more eye-popping prices.
California’s 10 largest cities, ranked by Zillow rent index monthly price in November 2019, and their percentage increase during the decade, are:
- San Francisco, $3,774 per month, up 38.2% for the decade.
- Oakland, $2,678 per month, up 78.2%.
- San Jose, $2,651 per month, up 49.7%.
- Los Angeles, $2,473 per month, up 42.4%.
- San Diego, $2,201 per month, up 54.3%.
- Long Beach, $2,024 per month, up 57.1%.
- Riverside, $1,651 per month, up 52.1%.
- Sacramento, $1,492 per month, up 73.2%.
- Fresno, $1,005 per month, up 40.7%.
- Bakersfield, $949 per month, up 21.7%.
This story was originally published January 2, 2020 at 6:00 AM.
