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835 Caraway Dr, Whittier, CA 90601-1117
3 beds
2 baths
1407 sqft
1963 Year Built
7716 Lot Size
Renting vs. Buying in Whittier, CA: A 9-Year Financial Outlook
As of May 2025, the average home value in Whittier, CA, stands at approximately $824,074, reflecting a 3.5% increase over the past year . With mortgage interest rates around 6.25%, prospective homeowners are evaluating the long-term financial implications of buying versus renting.
📈 Home Price Appreciation Forecast
Historical data indicates that Whittier’s real estate market has experienced consistent growth. Over the past decade, the city saw a cumulative appreciation rate of 91.72%, averaging 6.73% annually . Assuming a conservative annual appreciation rate of 6.5%
| Year | Projected Home Value |
| 2025 | $824,074 |
| 2026 | $877,718 |
| 2027 | $934,791 |
| 2028 | $995,553 |
| 2029 | $1,060,281 |
| 2030 | $1,129,271 |
| 2031 | $1,202,837 |
| 2032 | $1,281,317 |
| 2033 | $1,365,071 |
| 2034 | $1,454,490 |
📊 Rent vs. Buy: 9-Year Cost Comparison
| Category | Buying | Renting |
| Total Payments | $546,480 | $350,000 |
| Equity Accumulated | $730,416 | $0 |
| Net Gain/Loss | +$183,936 | -$350,000 |
📝 Conclusion
While renting may offer lower monthly payments initially, buying a home in Whittier, CA, presents a substantial opportunity for long-term equity growth. With projected home value appreciations and equity accumulation, purchasing a home could result in significant financial benefits over a nine-year period. For personalized advice tailored to your financial situation, consider consulting with a mortgage professional or financial advisor.
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