Recently, I had the opportunity to examine a case of a landlord who completely remodeled a two-bedroom apartment built in the 1970s near Belmont Heights in Long Beach and rented it out. After replacing old plumbing and insulation and updating the kitchen and bathroom, they renewed the lease with a rent increase of about 15 percent. At first glance, it didn't seem much different from new construction, but the point where tenants diverged was elsewhere.

The average rent across Long Beach is projected to be $2,709 per month by 2026, which is an increase of 2.44 percent compared to the previous year (RentCafe, as of August 2026). Studios are around $1,958, one-bedrooms are about $2,469, and two-bedrooms are priced around $3,112. This average includes both older buildings constructed in the 1960s to 1980s and new constructions from recent years, so when actually looking for listings, the difference in feel based on the year built is much more pronounced.

On a national level, new apartments often carry a rental premium of about 10 to 20 percent compared to existing ones (RentCafe, Apartment List New Construction Trend Report). Long Beach is not significantly different from this trend, as recent market analyses indicate that thousands of new units have been supplied, putting pressure on existing, unremodeled properties, often referred to as legacy listings. From the landlord's perspective, they are faced with a choice between remodeling or accepting vacancies.

Being close to the coast, the salty sea breeze can significantly affect building exteriors, plumbing, and windows. Buildings constructed in the 1970s and 1980s often still use metal plumbing or old aluminum windows, which tend to corrode faster than in inland areas. In contrast, recent constructions use materials resistant to corrosion and adhere to strengthened seismic design standards established after the 1994 Northridge earthquake, making them structurally more stable. If you are considering older buildings near commercial districts like downtown or Pine Avenue, it's wise to check whether they have been retrofitted for seismic safety.

The advantages of new constructions are clear. They typically come with the latest insulation, double-pane windows, and smart thermostats, leading to lower electricity and heating/cooling costs compared to existing homes, and they often come with construction warranties that last from one year to up to ten years (nar.realtor, angi.com New vs. Existing Guide). On the other hand, existing homes often have larger units and established trees and landscaping, contributing to a stable atmosphere typical of older neighborhoods. However, it's important to consider that unexpected repair costs may arise in less visible areas like plumbing, roofing, and electrical wiring.

For Korean families in Long Beach, preferred school districts often include areas near Rossmoor and Belmont Shore within the Long Beach Unified School District. However, school district boundaries are tightly divided by address and can change frequently, so when selecting a property, it's advisable to refer to ratings from GreatSchools or Niche, but also to verify the actual schools assigned to the address.

Families moving to Long Beach from other states should also consider California's unique property tax structure. When purchasing new construction, property taxes are reassessed based on the purchase price, while older existing homes that have been owned for a long time often benefit from California's regulations that limit annual assessed value increases to within 2 percent, keeping property tax burdens relatively low. However, this can vary by county and individual property circumstances, so it's safest to confirm the exact amount during the escrow phase.

If approaching this from an investment perspective, new constructions may have initial vacancy risks and competition for concessions, but they typically have lower management and repair costs. Existing homes often have lower purchase prices, leading to relatively higher rental yields, but significant repair costs should be factored in separately. In terms of insurance, new constructions that meet the latest seismic and disaster standards may be favorably assessed for fire and earthquake insurance, while existing homes may incur higher premiums based on their age. However, insurance costs can vary significantly depending on the insurer and the condition of the individual property, so it's best to obtain quotes directly.

Ultimately, the choice between new and existing homes is not simply a matter of comparing rental or sale prices. It's essential to consider management costs, warranties, maintenance risks, and the atmosphere of the neighborhood to ensure satisfaction in both living experience and investment returns. This article does not constitute investment or legal advice, and it is recommended to consult with professionals before making any contracts or purchases.