Malibu Beach Real Estate
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This is an overview of the Malibu Beach real estate market. It is intended as a resource for investors and other home buyers when researching Malibu homes for sale.
The information is compiled from many sources, and will be updated every 3 months, however, some of the sources drawn from may be a few years older.
Last updated 3/15/2010.
OVERVIEW
Malibu is located in Los Angeles County in Southern California. The area code is 310 and the zip codes include: 90263, 90264 and 90265. The population is around 14,000 and the area covers 19.9 square miles.
Compared to the rest of California, Malibu has higher median household income and a lot higher median home value. They also have a lower unemployment rate, a higher median age, and newer homes. There is also higher percentage of residents with at least a bachelor's degree.
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MEDIAN HOME PRICE
The median sale price according to Zillow is $1,400,000 and the median home value according to Cyberhomes is $1,382,000.
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PROPERTY TAXES
The median property taxes for houses with a mortgage are around $6000.
RENTS
The median gross rent is $2431 with a 28% vacancy rate.
RENTERS VS. HOMEOWNERS
Around 23% are renters and 17% of homes are vacant.
MEDIAN INCOME
The estimated median household income is $181,000.
THE HOUSES
Most of Malibu Beach real estate was built in the 1970's, with the next largest group being built in the 1960's. The third largest group was built in the 1980s.
JOBS
The most common 3 occupations include professional & related, management & business, and sales & office. The publishing, motion picture and sound recording industries, and real estate, rental and leasing are major industries that employ people from Malibu.
There was 13.6% unemployment as of June of 2009.
COMMUTING
The average time for commuters to get to work is 38 minutes. Approximately 14% work from home.
THE PEOPLE
Ethnic makeup in this area is 89% white non-hispanic and 6% hispanic and the rest are under 5% each. Of the 14% foreign born residents, most are from Canada, the UK, Iran and Germany. There are also many from Mexico, Hungary and Australia.
EDUCATION
59% have a bachelor's degree or higher, while 27% have a graduate or professional degree.
THE WEATHER
Temperatures range from 70 in summer to 50 degrees Fahrenheit in winter. There are usually 33 days of precipitation and you can expect about 262 sunny days per year. Rainfall is 22 inches annually.
CRIME
Property crime is lower than the national average, but violent crime is a little higher.
DISCLAIMER: All information is obtained amd combined from multiple sources but we cannot guarantee their accuracy.
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