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Torrance, California

$829,200 is the median house value in Torrance, California. Houses have increased in value by 8.6 percent within the last year. It has been forecasted that this number increase another 4.8 percent in the following year.

In Torrance, California, the median list cost per square foot is $506. The metro area of Los Angeles-Long Beach-Anaheim has a lower per square foot median list cost of $425.

Presently, the median list price for homes is $789,000 in Torrance. Sales have been at a median of $775,200.

In Torrance, $2,935 is the median rental cost. The Los Angeles-Long Beach-Anaheim metro area has a higher rental cost median of $3,100.

The median annual household income in Torrance, California is $78,286.

Foreclosures have an impact on home values. The lower the foreclosure rate, the higher the value of homes.
0.6 houses go through foreclosure for every 10,000 houses in Torrance. This is a lower foreclosure rate than that of Los Angeles-Long Beach-Anaheim metro which is 0.9 percent. The USA has a foreclosure rate of 1.6.
When a homeowner goes through foreclosure, there is a first step they experience. It is mortgage delinquency. This occurs when an owner of a house misses making a payment on their mortgage.
In Torrance, California, the percentage of mortgage delinquencies is 0.5 percent. The United States of America has a higher mortgage delinquency rate of 1.6 percent.
The value of houses fell more than 20 percent as a result of the recession of 2008. There are many homeowners in the United States presently underwater on their mortgages from that recession.
When a homeowner is underwater on their mortgage, it means that they owe more money on their home mortgage than the value of their home.

3.8 percent of Torrance, California homeowners are underwater with their mortgages. The metro area of Los Angeles-Long Beach-Anaheim has a higher rate of 5.6 percent homeowners underwater on their mortgages.