Long Beach’s housing market is experiencing notable shifts, with changes in home prices, rental rates, and new developments shaping the landscape.
Home Prices and Market Trends
As of March 2026, the median listing price in Long Beach was $739,000, reflecting a 3.9% decrease from the previous year. The price per square foot averaged $642, down 3.89% year-over-year. Active listings increased by 4.62%, totaling 882 properties, while the median days on market decreased to 43 days, indicating a slightly faster sales pace.
Rental Market Dynamics
The rental market has also seen adjustments. The median rent in Long Beach stood at $2,740 per month, an 8.51% decline from the previous year. This decrease may offer some relief to renters in the area.
New Developments and Affordable Housing Initiatives
Several new developments are underway to address housing needs:
Armory Arts Collective
Construction has begun on the Armory Arts Collective, a 64-unit affordable housing community for seniors in the East Village Arts District. This project aims to provide housing for low-income seniors aged 55 and older, earning between 30% and 70% of the area median income.
300 Alamitos Avenue
Another significant project is the 300 Alamitos Avenue development, which will offer 81 affordable homes for seniors. Forty units are designated for extremely low-income seniors who have experienced homelessness, with the remaining units for those earning 50% to 60% of the area median income.
Portico Development
JPI has secured financing for Portico, a $150 million mixed-use development featuring 272 multifamily units and 18,841 square feet of ground-floor retail space. Sixteen units will be designated as affordable housing.
These developments reflect Long Beach’s commitment to expanding housing options and addressing affordability challenges in the community.