Eureka, a coastal city in Northern California, is emerging as an unlikely haven for homebuyers struggling with the state's astronomical housing costs. With a median home price of $415,534, Eureka offers a significant respite compared to the California median, which has increased by $330,000 in the last decade. This affordability makes the city, with a population of approximately 26,000, an attractive option for those priced out of other Golden State markets.
Buyers can find a 1,478-square-foot Victorian home with three bedrooms and two bathrooms for $235,000, translating to about $159 per square foot. For those seeking proximity to the water, an 860-square-foot two-bedroom, two-bathroom property on the waterfront is listed at $279,000.
Beyond its housing market, Eureka is celebrated for its natural beauty, situated between the towering redwood forests of Redwood National and State Parks and scenic marine preserves accessible by ferry. Residents praise the area's natural splendor, with one lifelong resident describing the redwoods as "stunning and IMPOSSIBLY huge" and the beaches as beautiful and uncrowded.
However, the city also faces challenges. Unemployment in Eureka stands at 5.4%, higher than the national average of 4.54%. The median household income is $64,980, falling below the national median of $83,181. Job opportunities are noted as being limited outside of blue-collar trades. Additionally, travel in and out of the area can be difficult due to terrain and the absence of an international airport, with major cities and interstate highways being at least three hours away. Some residents also cite a "severe homeless and drug problem" in the city.
Nearby, Crescent City, a smaller town of about 7,000 people, also offers affordable coastal living, with beach-adjacent properties averaging $353,000, according to an analysis by the Chronicle.