There are currently 4,203 real estate properties in Morro Bay, CA, with a median automated valuation model (AVM) price of $766,000.00. What is an AVM? It is a smart computer program that analyzes and predicts the approximate value of a home, property or land in Morro Bay, CA, based on current market trends, comparable real estate sales nearby, historical data and, of course, property features, among other variables. These automated home estimates are often very helpful, providing buyers and sellers with a better idea of a home’s value ahead of the negotiation process. For example, the average home price in Morro Bay, CA, is $815,109.00, with the most expensive house in Morro Bay, CA, topping out at $4,000,000.00 and the cheapest home in Morro Bay, CA, clocking in at $129,000.00. In other words, there’s something for every potential homebuyer or savvy investor in Morro Bay, CA!
With the expiration of certain local, state and federal housing-related restrictions and mandated programs, the rental market in Morro Bay, CA, is on a rollercoaster ride. The average rent price in Morro Bay, CA, is $2,541.00. Indeed, when looking to rent in Morro Bay, CA, you can expect to pay as little as $1,350.00 or as much as $3,820.00, with the average rent median estimated to be $2,380.00. The good news is that finding an affordable and desirable property to rent in Morro Bay, CA -- whether it’s apartments, townhomes, condominiums or single-family homes -- is made easier with knowledge of the local market and, of course, a little patience.
Find the best foreclosure homes listings for sale — bank-owned, government (Fannie Mae, Freddie Mac, HUD, etc.) and others — in and near the Morro Bay, CA area at Foreclosure.com. Get information on foreclosure homes for rent, how to buy foreclosures in Morro Bay, CA and much more. Save thousands at closing with home foreclosure listings in Morro Bay, CA — up to 75% off market value!
Morro Bay is located in San Luis Obispo, California, with an estimated municipal population of 10,543 residents. All of the best foreclosed homes for sale in Morro Bay are located in the following zip code areas on Foreclosure.com: 93442 93443. The estimated population per square kilometer (.62 miles) in Morro Bay is 764.
So, about how much do homes cost in Morro Bay? The most recent median value of resident-owned homes in Morro Bay is 600,870. An estimated 59.1 percent of households in Morro Bay own their homes, with an average family size of 2.8. The median household income in Morro Bay is 68,262, with29.2 percentage of households earning at least $100,000 annually. For working parents and professionals who are searching for cheap homes in Morro Bay, the median commute time of resident workers (in minutes) is 22.9. And last, but certainly not least, are you looking for homes to rent in Morro Bay? If so, the average rent price paid by renters in Morro Bay is 1,560, according to recent statistics.
Where a home is located is almost just as important as the home itself. Whether you are a first-time homebuyer or are relocating to Morro Bay, it is essential to take a deep dive into your potential future neighborhood. Homeownership is often a long-term relationship; therefore, be sure to do your due diligence to ensure that you make the best long-term decision.
The median age of residents in Morro Bay is 50.8, split between 48.4 percent male versus 51.6 female. The percentage of residents who report being married in Morro Bay is 43, with an average family size of 2.8.
The percentage of residents who report their race in Morro Bay is as follows:
|Black / African American||1.3%|
|American Indian / Alaskan Native||1.2%|
|Native Hawaiian / Other Pacifc Islander||0%|
Looking for family-friendly neighborhoods in and/or near Morro Bay? Or maybe you are searching for 55+ active adult communities in and/or near Morro Bay?
The percentage of residents who report their age in Morro Bay is as follows:
It was a rollercoaster ride for academics in 2020, with school districts throughout the nation transferring their classes online because of the global pandemic. Numerous school districts will continue online courses, while others will welcome students back to campus. Regardless, homebuyers are shopping for homes in Morro Bay with dedicated in-home learning spaces, as well as for homes located within the best school systems for in-person instruction in Morro Bay.
How do you know that living in -- or moving to -- Morro Bay is right where you need to be? Perhaps you grew up in Morro Bay or already live nearby; therefore, the decision to buy a home in Morro Bay is a no-brainer. For others, however, it may not be such a straightforward or simple decision. Whether you are relocating to Morro Bay for work or just looking for a fresh start, getting a read on a neighborhood from afar (online) can be tricky... and exhausting.
Here are some questions to ask yourself when shopping for foreclosed homes for sale in Morro Bay:
In short, it always helps to create a “Pros vs. Cons” list of what you need in a home and/or neighborhood like Morro Bay.
Prospective homebuyers are clearly taking advantage of the low interest rates and numerous government assistance programs. These low interest rates mean homebuyers in Morro Bay can now afford much more house for the same monthly payment (if interest rates were higher). Motivated and opportunistic sellers in Morro Bay, meanwhile, can field multiple offers from more qualified buyers.