During this past month of September, the median rental price for a single family home in Laguna Niguel was $3,681 and median sale price for a single family home in the city was $822,200. There were approximately 233 homes listed for sale in the city at the end of September, compared with 233 in August. During the last month, homes sold within 26 days on the market and received 2 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 25,888. Single family housing units make up the vast majority 75.85% of Laguna Niguel's housing units, 19,635 units total. Multifamily units make up 23 percent, or approximately 6,205. As of last year, the average housing density (people per household) was 2.65, compared with the state average of 2.97. At the end of the period, about 1,310 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 Laguna Niguel as many as 11,584 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 Laguna Niguel over the coming years. Consider for example, if just one percent of eligible homeowners in Laguna Niguel built an ADU each year, it would contribute an additional 579 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 Laguna Niguel 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 Laguna Niguel.
For homeowners and local developers who are interested in getting involved in the ADU movement locally in Laguna Niguel, 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 Laguna Niguel, one garage, basement, or backyard at a time.
This table shows that only about 23 percent of housing units in Laguna Niguel were constructed prior to 1980. The fact that the vast majority of the city's housing stock is less than 30 years old suggests that there is less need for rehabilitation than in most jurisdictions in Southern California.
Median Sales Price $822,200.00
Median Rental Price $3,680.00 Based on 840 sqft unit
Total Homes on Market 233
Average Days on Market 26
Average Offers per Sale 2
Total Housing Units 25888
Single-Family Units 19635
Other Type Units 48
Unit Vacancy Rate 0.0506
Annual Units Produced (2017) 4
Go to Laguna Niguel ADU Zoning Page
City Population 62,979
City Area 14.83 sq. mi.
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State of CA Assemblymember Richard Bloom Talks on CA Housing Legislative Package https://cal.streetsblog.org/ 23/10/2017
State of CA Homebuyers Can Now Use Income from ADUs to ... - Yahoo Finance finance.yahoo.com 26/04/2017
State of CA Accessory Dwelling Units - California Department of Housing and ... www.hcd.ca.gov 01/01/2017
State of CA This Thanksgiving, Talk To Your Family About Zoning https://www.forbes.com 21/11/2018
Go to Laguna Niguel ADU Zoning Page
... Or find another city in CA