Why Invest in Manhattan Beach Real Estate?
Considered a strong and stable housing market in the vibrant Los Angeles area, Manhattan Beach's real estate scene is continuously developing. Located on the Pacific coast, Manhattan Beach is one of South Bay's three Beach Cities. The town is famous for its beach-related leisure ops, quality schools, a laid-back atmosphere, beautiful sceneries, and high-end restaurants. With over 35,000 residents, the area's population growth rate was 0.41% in 2017, lower than the national average of 0.7%.
When looking at the local economy, we've observed that Manhattan Beach has some robust economic indicators. Professional, scientific, & technical services, manufacturing, healthcare, finance & insurance, education, and retail are the largest industries in the town. The area's economic stability leads to an influx of tenants, home buyers, and real estate investors.
Thanks to its steady economy and population number, proximity to the ocean and the airport, awesome education opportunities, as well as a relaxed vibe, Manhattan Beach is an on-fire real estate market for investors looking to own single-family homes.
Investment Considerations for Manhattan Beach Real Estate
There are a number of factors to consider, including:
- Job market growth - With an unemployment rate of 2.1%, Manhattan Beach is doing considerably better than the national average of 5.2%. During 2017, the charming area has seen a 1.4% job market increase and the future job growth over the next decade is predicted at 40.7%, higher than the US average of 38.0%. The majority of the town's population (over 70%) has a Bachelor's or graduate degree. This translates into plenty of highly educated professionals who have numerous job opportunities and who can afford to pay rent on time. Thus, real estate investors can find employed or job-seeking tenants or buyers for their properties.
- High rental demand - With a steady economy, the rental demand in Manhattan Beach is very high at the moment. More than 28% of the total housing units are occupied by renters and the vacancy rate is very low. Hence, real estate investors will easily find tenants for their single-family homes.
- Rent prices growth - Rent prices have consistently gone up over the last years, as the rental demand has been increasing and the vacancy rate has stayed low. Even if the property prices are also growing, so are the properties' values; plus, the average rental income is $5,614. This means that Manhattan Beach can offer a favorable future for real estate investors in single-family units.
- Popularity as a living destination - It's no secret that this charming beach town is alluring for numerous people and this continuously pushes the sale prices and the unit values. Manhattan Beach's popularity is based on several factors such as top-notch education & healthcare opportunities, walkable distances, delightful sceneries, blooming dining scene, and peaceful atmosphere. Real estate investors can, therefore, have peace of mind that purchasing property in this area is highly likely to generate a good return on investment.
What are the Best Neighborhoods to Invest in Manhattan Beach
Single-family rental properties are always on demand all throughout Manhattan Beach. As a rule of thumb, the closer to the beach a house is, the higher the ROI that it can generate. El Porto, The Strand, and Hill Section are great areas for luxury, surf, and beach experiences. East Manhattan has a more family-like personality, while Downtown is attracting people who love an energy-charged place.
Manhattan Beach is a good real estate market as both prices and value have continued to increase. Real estate investors looking for appreciation, steady incomes, and positive cash flow likelihood, can consider Manhattan Beach a great opportunity.
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 Manhattan Beach, CA; and across the United States and calculate home values RENTestimate for every property in Manhattan Beach, CA. If you’re looking for the best investment properties across the country, visit our comprehensive investment site.