Why Invest in Camarillo, CA Real Estate?
Camarillo is a picturesque community located in Ventura County, halfway between Santa Barbara and Los Angeles. With more than 67,000 inhabitants, the area has experienced a 0.56% population growth rate in 2017. The essential drivers of the place's real estate are its nice climate, well-maintained infrastructure, beautiful parks, and top-rated schools. Therefore, Camarillo offers numerous opportunities for real estate investors in single-family homes.
Despite of the fact that it doesn't experience an economic boom like some other parts of California, Camarillo still has a solid economy with flawless healthcare services, stable retails trade and a low unemployment rate. Hence, Camarillo's real estate scene is staying active which makes the city a decent option for investors.
Camarillo's real estate market seems to be getting back on its feet after it has been stagnating for a while. As such, it has plenty of well-to-do residents, a lot of whom rent their living spaces. Plus, there are many new developments popping up.
Investment Considerations for Camarillo Real Estate
There are a number of factors to consider, including:
- High Rental Demand - With only 3.7% of residential properties in Camarillo being unoccupied, the city keeps its vacancy rate low. In addition, 28.8% of the residents are tenants and about 28% of the properties are renter-occupied, which translates into a high rental demand and a heated up rental market. Thanks to that, the rent prices have also gone up by approximately 3% in 2017. Therefore, Camarillo is a promising place when it comes to achieving profit from rental properties.
- Affordable Entry Price of Homes - The median price of a home in Camarillo is $621,200, which is significantly lower than some neighboring counties like Santa Barbara and Los Angeles. Plus, the appreciation rates have gone up by 7.3% during 2017. This means that real estate investors can purchase properties at a pocket-friendly price, benefit from high rental demand and growing rent prices, and, as the value increases, sell them later on for a nice profit. Moreover, the homeownership rate is over 70%, there are lots of people moving to the area, so there's definitely no shortage of active home buyers.
- Increasing Supply of Residential Properties - In 2019, Camarillo’s real estate market will be enriched with two new apartment complexes. While both were developed by Fore Property, one of them is envisioned for seniors. This might lower the prices and make Camarillo’s market swing toward benefiting buyers even more.
- Popular Living Destination - With friendly weather, low crime rates, a laid-back vibe, and excellent schools such as Camarillo Heights Elementary and Rancho Rosal School, it’s no surprise that Camarillo was ranked the 66th best place to live in 2017. Hence, real estate investors can choose from plenty of tenants and homebuyers who move to the city are searching for a place to live.
What are the best neighborhoods to invest in Camarillo
- The most desirable properties in Camarillo are concentrated along St John’s Seminary, Calle Portilla, and Central Avenue. However, new developments by Fore Property and their effects on the state of the local real estate market are also worth keeping an eye on. These areas are peaceful, safe, and close to state-of-the-art schools, which are important factors for property renters and buyers.
- Overall, Camarillo is a promising market for real estate investors. The high rental demand, growing rent prices, real estate development, awesome infrastructure, access to great healthcare and education facilities, as well as high property appreciation make real estate investment in Camarillo a smart move.
HomeUnion® is the leader in residential real estate investment. With the use of big data and machine learning, we analyze information on millions of single family homes in Camarillo, CA; and across the United States and calculate home values RENTestimate for every property in Camarillo. If you’re looking for the best investment properties across the country, visit our comprehensive investment site.