January's First-Time Homebuyer Report for South Gate

South Gate is a larger than average city in California with 94,396 residents. Its population is also shrinking slower than others at a 10-year growth rate of -1.5%. It should be noted that at 52.2%, most homes are being rented in South Gate. The top school in the city is Bryson Avenue Elementary School.

Culture

If you're interested in the nightlife, one of the most popular places to get a drink in South Gate, according to Foursquare, is Hops and Barley Alehouse. You might also try Tierra Mia Coffee, a popular place to get a cup of coffee. You could also check out the popular Lucky, Walgreens, and Superior Grocers to do some shopping.

Price Range

The housing prices of South Gate are close to the state average with a median home value of $232,200 and a current average list price of $417,519. While home sales in the South Gate market have been above average, in this week's report they fell 3.4% to 28 homes sold over the last 30 days.

Make sure you take a look at these eye-catching homes in South Gate that generated the most views from potential buyers:

$450K   $419K   $379K  

Typical Dwelling

The typical dwelling in South Gate is a three-bedroom detached home worth about $412,863. To purchase a similar home, a buyer with good credit and a $82,573 cash down payment could obtain a mortgage with a 3.95% interest rate and a $1,895 monthly payment. The property tax rate is $7.73 per $1,000 of taxable assessed value.

Get started right now by checking out South Gate homes for sale or reviewing South Gate real estate trends.


Data reported through 1/12/2017

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