Finding a new homes in Los Angeles under $700k might sound like a contradiction. With the average Los Angeles home value hovering around $949,479 and a median sale price of $1,028,667 as of 2026, the idea of a brand-new home at that price point can feel like a relic of the past. However, it is not impossible.
For buyers willing to be flexible on location, property type, and square footage, opportunities do exist. While you will not find a newly constructed single-family home with a yard in Beverly Hills, the Los Angeles market offers new construction condos, townhomes, and homes in suburban growth corridors that fit within this budget. This guide explores what the market looks like, where to search, and what to watch out for when hunting for a new build in Los Angeles under $700,000.
What Can $700K Buy in Los Angeles Right Now?
The definition of “new home” matters significantly in this search. For a budget under $700,000, buyers are predominantly looking at attached properties or homes in communities that are further from the city center.
Based on recent listings, buyers in this price range can expect one of the following property types:
New Construction Condos
In urban and inner-ring neighborhoods, new condo developments often offer the best fit for this budget. These are usually smaller units, sometimes with one or two bedrooms, but they offer the benefit of modern amenities, energy efficiency, and move-in ready condition without the immediate need for repairs.
New Construction Townhomes
Townhomes represent a sweet spot for many buyers. They offer more space than a condo, often with two to four bedrooms, and may include a small yard or rooftop deck. New townhome communities are being built in suburban areas and sometimes in infill locations within the city. In 2026, several new townhome communities in Los Angeles County have base prices starting at or just above $700,000.
Newly Built Single-Family Homes (In Specific Locations)
Buyers searching for a brand-new single-family home, a detached house with a yard, will need to look further outside the city core. Areas like Littlerock in the Antelope Valley, parts of the San Fernando Valley, and the San Gabriel Valley corridor offer some options. It is possible to find a new build with three or four bedrooms on a large lot in these areas, but the trade-off is a longer commute to Downtown Los Angeles.
Where to Look for New Homes Under $700K
Several areas in the Los Angeles region are seeing new construction activity that fits within this budget. Here are a few areas worth exploring.
Santa Clarita: Sage at Sand Canyon
Lennar launched Sage at Sand Canyon in June 2026, offering new attached homes in a suburban setting. This community features three-story floor plans ranging from 1,812 to 2,479 square feet with three to four bedrooms. Pricing starts in the upper $600,000s. This community provides a modern, low-maintenance lifestyle for first-time buyers and young families, with the Everything’s Included package that brings stainless steel appliances and quartz countertops as standard features.
Hawthorne: Indigo by Melia Homes
In Hawthorne, a city located near Los Angeles International Airport and the South Bay beaches, Melia Homes is building the Indigo community. These contemporary three-story townhomes are priced starting from $659,900. They range in size from 926 to 1,900 square feet and offer one to four bedrooms. This location offers a balance between access to the coast and the connectivity of a suburban hub.
Littlerock: 2026 Single-Family Home
A 2026-built single-family residence at 9737 East Avenue Q-4 in Littlerock was listed at $695,000. This property offers approximately 1,684 square feet of living space with three bedrooms and two bathrooms, plus an attached 500-square-foot Accessory Dwelling Unit with one bedroom and one bathroom. This is a rare find for a detached new build under $700K, but Littlerock is in the Antelope Valley, a significant distance from central Los Angeles.
Koreatown: Mosaika Condos
The Mosaika community in Koreatown offers brand-new boutique residences, with a unit priced at $675,000 for a two-bedroom, two-bathroom condo. Built in 2024, this development includes a fitness center and a rooftop lounge with city views. It is a good example of what buyers can get for under $700K in a dense, walkable L.A. neighborhood: a modern, amenity-rich condo.
The Impact of Location on Price
The price difference between neighborhoods in Los Angeles is extreme. Buyers must be willing to make trade-offs between location and the type of home they can afford.
| Location | Typical Property Type in Price Range | Key Trade-Off |
|---|---|---|
| Santa Clarita | Attached Homes / Townhomes | Suburban lifestyle, commute to LA |
| Hawthorne | Townhomes | Close to beaches and LAX, urban-suburban feel |
| Koreatown | Condos | Urban living, walkable, less square footage |
| Littlerock / Antelope Valley | Single-Family Homes | Long commute, more land and space |
| San Gabriel Valley | Condos / Townhomes | Good schools, suburban lifestyle |
Beyond the Purchase Price: HOA Fees, Taxes, and Hidden Costs
When budgeting for a new home under $700,000, the monthly payment is more than just the mortgage. Buyers must factor in property taxes, homeowners insurance, and, often, hefty Homeowners Association (HOA) fees.
HOA Fees: For condos and townhomes, HOA fees can be a significant monthly expense. For instance, the Koreatown condo has an HOA fee of $596.32 per month. The Baldwin Hills townhome listed at $699,000 has a fee of $440 per month. Buyers should factor this into their affordability calculations.
Property Taxes: In California, property taxes are roughly 1.1% of the purchase price. On a $700,000 home, that adds approximately $7,700 annually, or about $641 per month.
Closing Costs: Buyers should prepare for closing costs of 2% to 5% of the home’s price, which, on a $700,000 home, can range from $14,000 to $35,000.
Mortgage and Down Payment Considerations
The typical 20% down payment on a $700,000 home is $140,000, a substantial sum. However, many buyers finance new construction with lower down payments.
- FHA Loans: For first-time buyers or those with lower credit, an FHA loan can require as little as 3.5% down. On a $700,000 property, that comes out to $24,500.
- VA Loans: Eligible veterans and active-duty service members can access zero-down-payment VA loans, a massive advantage in the L.A. market.
- Conventional Loans: Programs like HomeReady or Home Possible allow for down payments as low as 3%.
- Down Payment Assistance: California and Los Angeles County offer programs like MIPA (up to $115,000) and LIPA (up to $161,000) to assist income-qualified buyers with down payments and closing costs.
Advice for New Construction Shoppers
Buying a new home is different from buying a resale. Here are a few tips for navigating the process.
1. Compare the Builder vs. an Independent Agent
When shopping at a new community, you will typically be working with the builder’s sales representative. It is wise to also have an independent buyer’s agent represent your interests. Your agent can help you compare the builder’s contract terms, financing offers, and available upgrades.
2. Budget for Upgrades
The base price of a new home is often just the starting point. Builders make significant profit on upgrades. If the model home has upgraded quartz countertops and premium flooring, those additions will increase the price. Ask for a detailed list of what is included in the base price versus what is an upgrade.
3. Get a Preapproval
As of 2026, getting pre-approved for a mortgage is critical, especially in a competitive market where inventory is limited. A preapproval shows the builder and the seller that you are a serious buyer.
FAQ: New Homes in Los Angeles Under $700K
Are there really new homes in Los Angeles for under $700K?
Yes, but they are primarily condos and townhomes rather than detached single-family houses. Opportunities exist in communities like Santa Clarita, Hawthorne, Koreatown, and the San Gabriel Valley.
Can I get a single-family new home for under $700K in LA?
It is rare and usually requires looking far from the city core. Areas like the Antelope Valley, such as Littlerock, or parts of the San Fernando Valley occasionally have small-lot new builds in this price range.
What is the average down payment for a new home in LA?
While 20% is standard, FHA loans allow 3.5% down, and certain programs offer assistance. A 3.5% down payment on a $700,000 home is $24,500.
What are the best areas for affordable new construction in Los Angeles?
Currently, Santa Clarita, Hawthorne, and the San Gabriel Valley have active new construction communities with starting prices around or below $700,000.
How much income do I need for a $700K home in LA?
A common rule of thumb is that your annual income should be at least three times the purchase price. However, this depends on your down payment, interest rate, debts, and credit score. In LA County, for first-time buyer assistance programs, a family of four may qualify with an income under approximately $180,000. For example, on a conventional loan with 20% down, a $700,000 home might require a minimum annual income of over $140,000.
Conclusion
While finding a new homes in Los Angeles under $700k is a challenge, it is not a dead end. The key is to adjust expectations regarding property type and location. By focusing on condos and townhomes in suburban or up-and-coming neighborhoods and taking advantage of government-backed loans or down payment assistance, Los Angeles homebuyers can still find a place in a brand-new property without exceeding this budget.