Long Beach, California, continues to be a focal point in Southern California’s real estate landscape. With its diverse neighborhoods and coastal charm, understanding the current housing market trends is essential for residents and potential buyers alike.
Current Market Trends
As of May 2026, the median sale price for homes in Long Beach stands at approximately $879,000, reflecting a 2.3% increase from the previous year. Homes are typically on the market for around 40 days, indicating a steady demand. The median price per square foot is $616, a slight decrease of 6.5% compared to last year. These figures suggest a balanced market, offering opportunities for both buyers and sellers.
Rental Market Insights
For renters, the average monthly rent in Long Beach is $2,347, marking a 1.9% increase over the past year. This rate is higher than the national average of $1,951, highlighting the city’s desirability and the premium associated with coastal living.
Affordable Housing Initiatives
Addressing the need for affordable housing, Long Beach has undertaken several initiatives. Notably, the city has approved over 5,000 housing units in the past three years, the highest in any three-year period since the 1980s. In 2025 alone, 1,200 new homes were completed, and 747 accessory dwelling units were approved, positioning Long Beach among the top cities in California for per-capita ADU production. These efforts aim to stabilize the housing market and provide more options for residents.
New Developments
Recent developments include the construction of the Armory Arts Collective, a 64-unit affordable housing community for seniors in the East Village Arts District. This project repurposes the historic Armory building and adds new residential construction, offering housing for low-income seniors aged 55 and older. Additionally, the 300 Alamitos Avenue project is underway, set to provide 81 affordable homes for seniors, with a significant portion reserved for those who have experienced homelessness.
These developments reflect Long Beach’s commitment to expanding housing options and supporting its diverse community. Whether you’re considering buying, renting, or investing, staying informed about these trends and initiatives is crucial in navigating the Long Beach housing market.