Should You Buy a Condo or a House in Long Beach?
In October 2026, the Long Beach median sale price was $550,000 for condos and townhomes and $962,500 for single-family homes. The condo costs far less to buy, but the monthly gap narrows once HOA dues and insurance enter the picture, and the two segments are behaving differently in the market. Here is how I compare them.
Market figures are from the Pacific West Association of REALTORS® (PWR) Local Market Update for October 2026, based on CRMLS data and current as of November 2, 2026. The mortgage rate is Freddie Mac’s 30-year fixed average as of November 5, 2026, which covers conventional loans for borrowers putting 20% down with excellent credit. Payments are principal and interest on a 30-year fixed loan.
The Market Is Treating Them Differently
| Metric | Single-Family Homes | Townhomes & Condos |
|---|---|---|
| Median Sales Price (Oct 2026) | $962,500 | $550,000 |
| 12-Month Median (Change) | $1,015,000 (+4.7%) | $520,000 (-1.2%) |
| % of Original List Price Received | 98.1% | 96.6% |
| Days on Market | 34 | 66 |
| Months Supply of Inventory | 3.1 | 5.8 |
| Closed Sales (Change From a Year Earlier) | 116 (-12.1%) | 57 (-14.9%) |
| Pending Sales vs. a Year Earlier | -62.5% | -59.5% |
Single-family supply of 3.1 months leans toward sellers by a common rule of thumb, while condos at 5.8 months sit closer to balanced. Over 12 months the single-family median rose 4.7% while the condo median fell 1.2%. Medians describe what sold, not what any one home did, and the monthly condo sample is small at 57 closed sales, so I read this as direction, not a forecast.
Monthly Cost: The Gap Shrinks
| 20% Down at 7.18% | Single-Family Median | Condo Median |
|---|---|---|
| Purchase Price | $962,500 | $550,000 |
| Down Payment (20%) | $192,500 | $110,000 |
| Loan Amount | $770,000 | $440,000 |
| Principal and Interest | $5,216 | $2,981 |
| Base Property Tax (1%) | $802 | $458 |
| Subtotal Before HOA and Insurance | $6,018 | $3,439 |
The gap is about $2,600 a month before HOA dues and insurance. If a condo’s dues approach that figure, the monthly savings disappear, and dues can change over time. They vary building by building, so ask for the real number and what it covers. Property tax here is the 1% base rate before any voter-approved charges, and your lender will count HOA dues as part of your monthly housing cost.
What Is Different Beyond the Payment
Financing
With a condo, the lender may review the whole project, including the HOA’s finances, reserves, insurance, litigation, and owner-occupancy levels. FHA and VA loans on condos generally require an approved project, so ask your lender about a specific building early.
Maintenance and assessments
With a house, exterior maintenance, major repairs, and landscaping are generally yours. A condo shifts much of that to the association, but if its reserves fall short, owners can be charged special assessments.
Rules and resale
HOA rules on rentals and pets shape both your daily life and the pool of buyers you would sell to later. Read them before you fall for a unit.
Bao’s Take: Beyond the Numbers
Compare the all-in monthly number
Do not compare the prices. Compare the full monthly cost, with HOA dues, insurance, and a realistic maintenance budget in both columns. That is the number that tells you whether the condo is cheaper in practice. The cash side is in How Much Money Do You Really Need to Buy a Home in Long Beach?
Read the HOA before you fall for the unit
Ask for the budget, the reserve funding, recent meeting minutes, and any pending or recent special assessments. A low price in a building with weak reserves can cost more later than a higher price in a well-funded one. That also helps your negotiating, since condos sold for 96.6% of the original list price in October, as I cover in How Much Can You Negotiate Off the Asking Price in Long Beach?
Decide which surprise you prefer
A house surprises you with repairs you control. A condo surprises you with association decisions you share. Neither is better, and which one you can live with is a personal call. The October 2026 Long Beach market report has the full data, the Long Beach neighborhoods guide helps you compare areas, and Search Homes shows what is on the market now.
Comparing a Condo and a House?
I can run the monthly numbers for both and walk you through what to ask about the HOA.
Buying? Schedule a Market Consultation With Bao
Selling? Get Your Long Beach Home Value
Baotuan Nguyenphuoc, REALTOR®, Seller Representative Specialist (SRS), real estate broker since 2007. I work with home sellers and buyers, including first-time buyers, in Long Beach and nearby communities. More market analysis is on the NP Realty blog.
