In Southern California, the city of Long Beach is the second largest city within the Greater Los Angeles region and because of that is home to a number of relatively well-off residents. Like many properties in beach cities and real estate in Los Angeles County, the median value of owner-occupied housing units between 2006 and 2010 was higher than the state's median and reached $508,900 while California's average was just $458,500.
Data from the 2010 U.S. Census of Population and Housing shows 462,257 people called Long Beach home and the city's population increased, just 0.2 percent between 2000 and 2010. Information from the census also indicated there were 176,032 housing units in Long Beach and 41.6 percent were owner-occupied while renters occupied 58.4 percent.
The city also has a relatively young population. The census listed the median age of residents around 33 years old and 24.9 percent of the population was under the age of 18. Additionally, only 9.3 percent were 65 years of age or older while 30.5 percent of the population was between 25 and 44 years old.
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.