Why Invest in Chino Hills, CA Real Estate?
Chino Hills is known for the beautiful Gabriel Mountains and proximity to Los Angeles thus, it attracts numerous migrants from all over the country. The city is home to more than 78,000 residents and has seen a stunning 2.19% population growth rate in 2017, which is significantly higher than the US average of 0.7%.
The economy of Chino Hills is varied and fast-growing, specialized in industries like manufacturing, retail trade, healthcare, and social assistance. This indicates a prosperous and stable future, which translates into a good opportunity for real estate investors.
With a great population growth, strong economy, and reasonable prices, the real estate market in Chino Hills is certainly heating up. The increased demand makes it pretty competitive, but this is balanced out by attractive appreciation rates.
Investment Considerations for Chino Hills Real Estate
There are a number of factors to consider, including:
- Job market growth - Chino Hills has a stable economy and a 2.9% unemployment rate, which is lower than the national average of 5.2%. Knowledge-based industries like healthcare and social assistance have added new jobs and generated revenue. As a result, the job market has increased by 3.4% in 2017. For real estate investors, this means many employed tenants who are able to pay their rent on time.
- High appreciation rates - The median price for a home in Chino Hills is $671,000, which is pretty affordable for Southern California. Another factor that makes the market promising for investors in rental properties is the appreciation rate of 4.8%. Moreover, the home values have grown by 3.5% in 2017 and are expected to go up by 3.2% in 2018. Thus, real estate investors can enjoy high returns on their investments as well as a regular cash flow likelihood.
- Increasing Rental Demand - As the population number skyrockets, so does the rental demand. With more and more people settling in Chino Hills, there are plenty of potential tenants and aspiring homeowners looking for a place to live. As a matter of fact, 2018 was marked by the opening of JTECC, a series of townhomes most of which were immediately sold. Property sales during 2018 were higher compared to 2017, with a 3% year-over-year increase in median home sales. Plus, the average rent in Chino Hills has seen a 2% growth in 2018. All these factors translate into more renters and buyers along with nice profits for real estate investors.
- Popularity as a living destination - Chino Hills has some of the lowest crime rates in California. In fact, it has been ranked the 35th safest city, which, combined with a very pleasant year-round weather and top-notch schools like Chino Hills High School and Country Springs Elementary School, makes the area extremely popular. This leads to low vacancy rates, which is awesome for real estate investors who own rental properties and are looking for a stable stream of income.
What are the best neighborhoods to invest in Chino Hills
- The top neighborhoods in Chino Hills are Whirlaway Lane, Buckingham Road, and Boys Republic. These areas are attractive for both potential renters and active homebuyers, thanks to their laid-back vibe, eye-catching architecture, and access to quality education and healthcare facilities.
- Chino Hills is a city that grows quickly, with a continuously-expanding economy and a constantly-increasing population. Hence, real estate investors in single-family homes have a wide range of opportunities.
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 Chino Hills, CA; and across the United States and calculate home values RENTestimate for every property in Chino Hills. If you’re looking for the best investment properties across the country, visit our comprehensive investment site.