The city of Cerritos, formerly known as Dairy Valley, is one of the Gateway Cities located in Los Angeles County. The 2010 U.S. Census of Population and Housing reported 49,041 people called Cerritos home, a drop from the population recorded with the 2000 Census, while the overall population of California increased by 10 percent.
Data from the census shows there were 15,859 housing units in the city at an average density of 1,790.8 people per square mile. Around 82 percent of homes were owner-occupied while 18.1 percent were occupied by renters. The median value of homes lived in by owners between 2006 and 2010 was $633,500, significantly higher than the state's median value of $458,500 but matching the price of most homes for sale in Los Angeles County.
The 2010 Census listed the median age of residents as 44 years old and 20.4 percent of the population was under the age of 18 while 17.7 percent were 65 years of age or older. The largest age range was of those between the ages of 25 and 44.
Homes for sale in Los Angeles could continue to see multiple offers, as mortgage rates have remained near all-time lows despite rising in two consecutive weeks.