Why Invest in Menlo Park Real Estate?
Hosting more than 33,000 residents, Menlo Park's population is constantly growing. The city has experienced a population growth rate of 0.82% in 2017, which is higher than the US average of 0.7%. The economic growth, awesome location, mild weather, economic growth, good healthcare, tech scene, and education access attract numerous people to move to Menlo Park.
Menlo Park's economy supports well-established industries like IT, business services, and science. All of these are continuously expanding, creating jobs, attracting revenue, new ideas, and exposure, as well as drawing current and future professionals.
Hence, Menlo Park is a smart call for real estate investors looking for increasing rental demand and prices within a profitable, expanding market.
Investment Considerations for Menlo Park Real Estate
There are a number of factors to consider, including:
- Job market growth - With Facebook recently establishing its headquarters in the city, Menlo Park has enjoyed a booming job growth. Besides the social network giant, other companies such as August Capital, Lightspeed Venture Partners, SRI International, Oculus VR, Quantified, and Menlo Ventures are based in this area. Often nicknamed "Venture Capital center of the universe", Menlo Park has a 2.6% unemployment rate (lower than the national average of 5.2%) and experienced a 3.8% job market increase. The city is attractive both for organizations and Millennials thanks to its economy and this goes hand in hand with the low unemployment rate and high population growth. So, as Menlo Park is an important player in the job growth scene, real estate investors can choose from a lot of tenants and active buyers who are able to afford to pay the rent on time.
- High rental demand - Menlo Park is home to numerous companies and state-of-the-art elementary and middle schools such as Peninsula School, Synapse School, Lauren School, and Alto International School. Thus, the city has a population of young families and skilled professionals. As the population, economy, and employment are growing, so does the rental demand. Hence, real estate investors in Menlo Park will find renters and buyers for their properties in a jiffy.
- Tech scene - Menlo Park draws tech entrepreneurs, start-ups, and well-established high-tech firms. As Google started here and Facebook has recently opened its headquarters in the area, the city has a lot of history related to the tech market. New and renowned businesses make Menlo Park a great place for new ideas. The promising tech scene is an essential ingredient for successful real estate investment, as investors can rent or sell properties to newly arrived tenants and residents.
- Popularity as a living destination - With awesome location, top-notch schools, employment ops, access to high-quality healthcare facilities, and a good quality of living, Menlo Park is a popular, family-oriented living destination. People also choose this city thanks to its proximity to San Jose and San Francisco, implicitly to universities such as Stanford. The area's downtown is quaint, with nice dining and shopping options. All of these mean low vacancy rates, which is amazing for real estate investors looking for consistent year-round incomes.
What are the Best Neighborhoods to Invest in Menlo Park
University Heights, Sharon Heights, Downtown Menlo Park, and Menlo Oaks are among the best neighborhoods to invest in Menlo Park. They have family-oriented communities and are close to schools and key company offices. However, the entire area is a good investment opportunity for real estate investors to own single-family homes.
Enjoying a robust economic growth, leisure ops, and access to first-rate education and healthcare, Menlo Park offers multiple opportunities for real estate investors, as both short- and long-term prospects regarding profit and cash flow look very promising.
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