Is West Hollywood real estate worth investing in? The answer to that question is “yes” if you consider the increase in property values in 2015 over last year.
Numbers from the L.A. County Assessor’s office, headed by former WeHo Councilmember Jeffrey Prang, show the value of property in West Hollywood increased by 9.8 percent in 2015 over 2014 — the highest percentage growth in all 88 cities in Los Angeles County.
The assessed valuation of West Hollywood real estate in 2014 was $8,775,937,654. In 2015 it increased by $864,356,661 to $9,640,294,315. The Assessor’s Office determines values of local property against which the County of Los Angeles levies a tax.
There are 9,609 total parcels in West Hollywood according to the Assessor’s Office. Of those, 6,600 are single-family residential parcels, 2,048 are residential income parcels (apartment buildings), and 961 are commercial-industrial parcels.