Where new homes are being built in Cypress
Cypress is almost fully built out, so new homes arrive in two ways: small townhome communities on infill lots along Lincoln Avenue, and a much larger plan for the land around the Los Alamitos Race Course in the south of the city. The Census Bureau estimates that only 103 of the city's 16,920 homes, about 0.6%, were built in 2020 or later, and 650 (3.8%) from 2010 to 2019. Most Cypress homes date from the 1960s and 1970s (ACS 2020-2024).
The pipeline is set by the city's 2021-2029 Housing Element, adopted on June 27, 2022, which gave Cypress a state-assigned need of 3,936 homes. The city's May 2024 environmental report spreads that need over three areas: the Cypress Town Center and Commons Specific Plan at the race course, the Lincoln Avenue Specific Plan, which runs about 3.1 miles east to west across the north of the city, and one site at 4955 Katella Avenue. A planning capacity is not a construction schedule. It is the most homes the zoning would allow, and builders decide what gets built and when.
New home communities in Cypress
We checked each builder's website and the city's state environmental filings on October 30, 2026. Builders change prices and release homes often, so call the sales office before you visit.
Tierra Walk by Olson Homes (20 townhomes, Lincoln Avenue)
Tierra Walk is a gated community of 20 three-story townhomes with a welcome center at 5732 Lincoln Avenue. Olson Homes lists three-bedroom plans with up to 3.5 baths and about 1,249 to 1,735 square feet, priced from the high $700,000s, with models open daily from 10 a.m. to 6 p.m. Its site describes shaded seating areas and open space inside the gates. It did not list HOA dues when we checked, so ask for the current budget and the dues for your plan.
Madera Walk by Olson Homes (townhomes, 4872 Lincoln Avenue)
Madera Walk is Olson's second Cypress community, at 4872 Lincoln Avenue, sold from the Tierra Walk welcome center. Its page lists three-story townhomes with three bedrooms, up to 3.5 baths and about 1,256 to 1,653 square feet, priced from the high $700,000s. Olson says limited homes remain, construction tours are under way and special financing is offered on select homes through the end of the year. The page does not give the total number of homes or HOA dues, so ask the sales team for both and for the financing terms in writing.
Cerise at Citrus Square by Melia Homes (62+ affordable condos, Moody Street)
Cerise at Citrus Square, at 9470 Moody Street, is a for-sale condominium community for buyers aged 62 and older, with income limits. Melia Homes lists 50 affordable one-bedroom homes and says the community is nearing sellout. The one-bedroom, one-bath Plan A1 has 763 square feet, and the builder's estimated pricing is $440,000 to $485,000; the two quick move-in homes listed were $450,000 and $465,000. The current maximum household income is $116,400 for one person and $133,050 for two. Purchases come with an affordability covenant and an equity sharing agreement, which limit resale and share appreciation, so read those documents with your own advisor. The site sits on the former Cypress School District office and maintenance property at Moody Street and Orange Avenue, which the city approved in October 2021 for 98 senior homes in total.
Belmont by Melia Homes (135 townhomes, race course area)
Belmont is a 135-home townhome community on a 7-acre former race course parking lot southwest of Vessels Circle. The city approved it in May 2021, and the city's 2026 environmental report describes it as built. When Melia bought the site, its plans called for two- and three-story homes of about 1,556 to 1,989 square feet with two to four bedrooms, plus a pool and barbecue areas. New sales have ended, so any home here now is a resale; it is still one of the newest groups of homes in the city.
Melia Homes Lot 14 (112 townhomes, Katella Avenue at Siboney Street)
On September 24, 2026, the city filed a notice that Melia Homes' plan to build and sell 112 attached townhomes on about 7.33 acres near Katella Avenue and Siboney Street is exempt from further environmental review, because it fits the approved Specific Plan 3.0. The site is Lot 14 of the race course tract map, split into eight condominium lots. No name, prices or sales date had been published when we checked, so treat it as a future option.
Cypress Town Center and Commons: up to 1,791 more homes
On August 25, 2026, the city approved the Specific Plan 3.0 Buildout Project, covering about 134 acres around the Los Alamitos Race Course between Katella Avenue, Lexington Drive, Cerritos Avenue and Walker Street. It allows up to 1,791 more homes beyond Belmont, about 440,000 square feet of non-residential space and park land, under a tract map that divides the area into 14 lots. Lot 14 above is the first named project. Builders, home types and timing for the other lots were not public when we checked.
Lincoln Avenue corridor sites
The Lincoln Avenue Specific Plan already allows homes at up to 30 per acre in its residential and mixed-use districts, and the city's 2024 Housing Element environmental report proposed extending that density to most of the corridor, about 1,317 more homes for a total capacity of about 1,644. The Olson communities are examples of what this zoning produces: small, gated groups of three-story townhomes on former commercial lots. Ask the planning division which corridor sites have active applications.
Other approved or proposed projects
The city approved a mixed-use project with 251 homes, a hotel and commercial space, including The Square retail center, for the 13-acre property at the northeast corner of Siboney Street and Katella Avenue in May 2020. The 2024 environmental report does not say whether those homes are for sale or for rent, so confirm before you plan around them. The same report proposed rezoning 4955 Katella Avenue, a big-box building partly used by a gym, for about 321 homes, in a specific plan area where housing is limited to seniors.
Cypress new home projects compared
| Project | Builder | Homes | Type | Price (builder, Oct 30, 2026) | Status |
|---|---|---|---|---|---|
| Tierra Walk | Olson Homes | 20 | Gated 3-story townhomes | From high $700,000s | Now selling |
| Madera Walk | Olson Homes | Not stated | 3-story townhomes | From high $700,000s | Now selling, limited homes |
| Cerise at Citrus Square | Melia Homes | 50 for sale | 62+ income-restricted condos | $440,000 to $485,000 | Nearing sellout |
| Belmont | Melia Homes | 135 | Townhomes | Resales only | Built |
| Lot 14 | Melia Homes | 112 | Attached townhomes | Not published | CEQA exemption filed Sept 2026 |
| Specific Plan 3.0 buildout | Various | Up to 1,791 | Mixed | Not published | Approved Aug 2026 |
Mello-Roos, HOA dues and property tax on new Cypress homes
Every community on this page is a condominium or townhome project, so each comes with an HOA. Neither Olson site listed dues when we checked, and Melia's Cerise page describes what its HOA maintains but not the monthly amount. Ask each builder for the HOA budget filed with the state, the reserve plan and the dues for your plan. Our California HOA guide explains what you are entitled to see.
The base tax rate depends on where in Cypress the home sits. The Orange County Auditor-Controller's 2026-27 Tax Rate Book lists 1.11632% for most Cypress tax rate areas, with others at 1.10161% to 1.14794% depending on the school district bonds. On a townhome bought for $780,000 at 1.11632%, the first full-year bill would be about $8,707, or about $8,629 after the $7,000 homeowners' exemption. New homes can also carry special taxes or assessments that are billed on top of that rate. Ask for the public report and any Mello-Roos notice before you sign; our Mello-Roos guide covers how they work, and the Orange County property tax guide covers supplemental bills.
New vs resale in Cypress: what costs more
Redfin's median sale price for a townhouse in ZIP 90630 was $779,001 for the three months to September 2026, on 20 sales, and $717,479 for a condo. Olson's new three-bedroom townhomes start in the high $700,000s, so new and resale townhomes sit in a similar range, though the new ones are three-story plans with newer systems and builder warranties. Resale single-family homes are a different market: Redfin's 90630 median was $1,159,707.
At the Freddie Mac 30-year average of 7.24% for the week of October 29, 2026, a $624,000 loan (20% down on $780,000) costs about $4,253 a month in principal and interest, before tax, insurance and HOA dues. A builder's rate offer can lower that, but compare the full cost: some incentives are paid for through a higher price or require the builder's lender. Ask for a loan estimate from an outside lender as well.
Inspections and warranties on new Cypress homes
Hire your own inspector for a pre-drywall walk-through and again before closing, even though the city inspects for code. In three-story townhomes, ask the inspector to look closely at deck and balcony waterproofing, roof drainage and the fire sprinklers. Read the builder's written warranty for what it covers and for how long, and how claims are made. Ask the builder to explain, in writing, the claims process for construction defects and the deadlines that apply. For age-restricted or income-restricted homes such as Cerise, also read the covenant and resale rules before you remove contingencies.
Buying a new Cypress home with a local agent
Ask each builder about its agent registration policy before your first visit, because some sales offices only recognize an agent who registers you on that visit. An agent can compare a builder's price and incentives with recent resales nearby, check the HOA budget and the public report, and track the construction schedule. How your agent is paid, and whether the builder contributes, is something to settle in writing before you tour; see our commission guide.
For help comparing Cypress communities, our featured Cypress agents work the area. For prices by ZIP, see the Cypress ZIP codes page; for resale condos and townhomes, see Cypress condos.