During this past month of September, the median rental price for a single family home in Cypress was $2,720 and median sale price for a single family home in the city was $682,200. There were approximately 70 homes listed for sale in the city at the end of September, compared with 81 in August. During the last month, homes sold within 37 days on the market and received 1 offers per sale on average.
City Housing Supply:
As of the end of 2017, the total count of existing housing units in the city was 16,372. Single family housing units make up the vast majority 77.49% of Cypress's housing units, 12,687 units total. Multifamily units make up 19 percent, or approximately 3,264. As of last year, the average housing density (people per household) was 3.09, compared with the state average of 2.97. At the end of the period, about 375 of housing units in the city were unoccupied, suggesting a vacancy rate of 0 percent.
Regulations & Outlook:
The City has finalized updates to it's residential zoning code that fully comply with State Laws SB 1069 and AB 2299 which allow for Accessory Dwelling Units (ADUs) to be developed on most single family lots. More commonly referred to as “Granny Flats” and “In-Law Units”, in Cypress as many as 7,485 homes may now be eligible to add some form of second dwelling unit. These laws are intended by The State to boost opportunities for housing production in cities in an effort to address the growing housing deficits local communities face accross The State. Typically secondary units are constructed by homeowners in backyards, converted garages and basements of single family residences. These new regulations could now allow individual homeowners to play a significant role to increase housing production in Cypress over the coming years. Consider for example, if just one percent of eligible homeowners in Cypress built an ADU each year, it would contribute an additional 374 units to the city's housing stock over the next five years and create hundreds of new local construction jobs.
Local News & Policy:
The city's latest residential zoning requirements for ADUs can be found on the Cypress City Page using the link or search bar at the bottom of this report. Recently More information on the latest local policies and requirements for ADUs will be available as they are passed. Check back each month for the latest changes in Cypress.
For homeowners and local developers who are interested in getting involved in the ADU movement locally in Cypress, use Housable to get insights about the ADU housing development potential of specific properties. Housable provides zoning, permitting, estimation and design tools, many of them free of charge, to help homeowners at any step plan, permit and build their ADU projects. Use property design and calculation tools any time, get low cost insights about the ADU potetnial of your property and connect with local professionals who can help with the process when you're ready to get started. Stay up to date with the latest local trends in housing production and join the ADU movement to create more housing in Cypress, one garage, basement, or backyard at a time.
As a general rule, when a housing unit reaches 30 years in age, major rehabilitation improvements begin to become necessary. According to 2006-2010 American Community Survey estimates, approximately 80 percent of the City's housing stock is more than 30 years old. As Cypress is almost entirely built out, fewer new units are being constructed. Between 2000 and 2010 approximately 624 units (or 4 percent) were added to the housing stock. Among owner-occupied housing, 81 percent of the units were constructed prior to 1980, with an additional five percent constructed in the 1980s. Similarly, 75 percent of renter housing units are greater than 30 years in age. In total, approximately 13,000 units are at an age where ongoing housing improvements are essential. Continued maintenance of the housing stock will be necessary through independent property owner action, as well as code enforcement and combined housing rehabilitation assistance to prevent deterioration of pre-1980 neighborhoods.
Progress: During the 2008-2014 planning period, the City had 16 projects that were required to provide affordable units to comply with the Inclusionary Housing Ordinance. Of the 16 developments, 8 projects contained affordable units, including 100 very low-income and 138 low/moderate-income units. Of the new construction that has occurred in the City, approximately 17 percent of the units are restricted for lower-income households. Effectiveness: The Inclusionary Housing Policy has been an effective tool for the creation of new affordable units in the City. The number of affordable units constructed that are reserved for lower-income households has exceeded the City's goal of 15 percent. Appropriateness: This program will not be continued in the updated Housing Plan. With the dissolution of Redevelopment in California in 2011, this policy can no longer be applied within the context of Redevelopment Project Areas.
During the prior planning period, a number of housing units have been constructed in Cypress, including units affordable to lower-income households. Exhibit HOU-2 and Table HOU-5 provide detailed information about the location and type of development that has occurred since 2006.
The elderly have a number of special needs including, housing, transportation, health care, and other services. Rising rents are a particular concern due to the fact that most seniors are on fixed incomes. Of Cypress' 398 senior renter households, 37% are lower income. As shown later in Table 2-21, there are three senior housing projects in the City providing 309 rental units, including 116 units affordable to a mix of very low-, low- and moderate-income households. The State of California Community Care Licensing Division identifies nine residential care homes for the elderly in Cypress providing 54 beds for senior residents, age 60+, requiring 24-hour assisted living. All of these residential care facilities are small (six or fewer beds) board and care homes.
units were constructed prior to 1980, with an additional 5% constructed in the 1980s. Similarly, 75% of renter housing units are greater than 30 years in age.
Median Sales Price $682,200.00
Median Rental Price $2,720.00 Based on 840 sqft unit
Total Homes on Market 70
Average Days on Market 37
Average Offers per Sale 1
Total Housing Units 16372
Single-Family Units 12687
Other Type Units 421
Unit Vacancy Rate 0.0229
Annual Units Produced (2017) 128
Go to Cypress ADU Zoning Page
City Population 47,802
City Area 6.58 sq. mi.
We have our final inspection TODAY and do expect it will go well. We’ve been lucky to have a nice inspector. I’ll send you more pics this weekend!
Fiona K. in Bell Canyon, CA
The plans were approved and I received the permit today. Thank you for all your help with the process!
Jannie B. in Los Angeles, CA
My experience with Housable was exceptional. The team was extremely helpful and responsive. I am very satisfied and happy to have used these services. As a homeowner I do not know the construction lingo or process but the Housable team very kind and helpful and patient with me. My expectations were exceeded. Thank you for everything.
Monica H. in Oakland, CA
State of CA With construction down, homeowners are investing in their properties and staying put https://themortgagereports.com 25/11/2018
State of CA California rent control measure makes November ballot https://la.curbed.com 18/06/2018
State of CA Assemblymember Richard Bloom Talks on CA Housing Legislative Package https://cal.streetsblog.org/ 23/10/2017
State of CA ADUs Done Right « Council of Community Housing Organizations www.sfchronicle.com 03/12/2016
State of CA AB 1866 Second Unit Legislation - California Department of ... www.hcd.ca.gov 06/08/2003
Go to Cypress ADU Zoning Page
... Or find another city in CA