Located between LA and Orange County, Long Beach has recorded a steady increase in housing prices over the past five years, thanks to its relatively affordable price range and coastal lifestyle. The price gap between neighborhoods close to the beach, like Belmont Shore, and inland areas like North Long Beach has noticeably widened during this period. The unique industrial base of the port city and downtown redevelopment have contributed to a gradual change in the neighborhood's atmosphere in recent years.

At the beginning of 2021, the median home price in Long Beach was around $650,000. As of 2026, it is estimated to be about $890,000, resulting in a cumulative increase of approximately 37%. Compared to the national average increase of 35-40% during the same period, Long Beach appears to have followed a similar trajectory. The increase has been slightly higher in the single-family home market than in the condo market.

Looking at the yearly trends, from 2021 to early 2022, low interest rates and the rise of remote work led to a surge in demand from nearby metropolitan areas, causing prices to rise rapidly. From mid-2022 to 2023, the impact of interest rate hikes led to a noticeable decline in transactions, and after 2024, a gradual recovery and stable trend have been observed. Recently, the listing period has lengthened somewhat, indicating a shift towards a buyer's market.

Factors supporting Long Beach's housing prices include port-related industries and logistics jobs, relatively low entry prices compared to LA, and a lifestyle with coastal access. Recently, downtown redevelopment and improved public transportation access have also been contributing factors to demand. Rental demand near Long Beach City College and CSULB remains a consistent area of interest for investors.

However, on the supply side, the limited availability of new construction continues to support price stability. Due to these structural characteristics, it is expected that there will be gradual fluctuations rather than sharp price corrections. The high proportion of older homes, which require consideration of remodeling costs, also presents a variable for actual buyers.

It is essential to approach the future market cautiously. Depending on the timing and extent of interest rate cuts, there may be a resurgence in buying activity, but given the significant increases over the past five years, the likelihood of a repeat of past surges is considered low.

For Korean households, the relatively lower price point compared to downtown LA makes it a region worth considering for actual residence purchases. However, if planning to sell, it may be advantageous to monitor interest rate trends and adjust timing accordingly. For potential buyers, keeping an eye on employment trends in the port industry and redevelopment progress will likely be helpful. Given the significant variations between neighborhoods, narrowing down areas of interest and comparing prices individually also seems necessary.

On a national scale, while emerging cities in Florida and Texas have seen increases of around 50% over the past five years, some Midwestern cities have remained in the 20% range. In this context, Long Beach can be seen as having recorded a relatively moderate increase among California coastal cities.

It is also important to monitor mortgage rate trends. Since 2022, 30-year fixed rates have risen to the 6-7% range, significantly increasing the monthly payment burden even in mid-priced markets like Long Beach. Recently, there have been signs of slightly decreasing rates, but the prevailing outlook suggests that returning to pre-pandemic ultra-low rates will be difficult, making it prudent to establish repayment plans conservatively. Whether to continue renting and wait or to enter the market now will ultimately depend on each household's financial situation and living plans.