Why Invest in North Tustin, CA Real Estate?
The real estate market in North Tustin has some fairly attractive options for real estate investors. With affordable median home prices and high appreciation rates, the place is more of a buyer's market than most real estate scenes in the Orange County.
Known for its nice year-round weather, laid-back vibe, access to state-of-the-art public schools and healthcare facilities, North Tustin is home to more than 26,000 people. As an unincorporated community in Orange County as well as a census-designated place, North Tustin is growing in popularity.
The area is in close proximity to numerous emerging Californian tech hubs, which is promising when it comes to real estate investing. Its economy is strong, stable and supports key industries like manufacturing, retail, healthcare, professional services, and education.
All this means that North Tustin real estate investors don't lack opportunities and can benefit from the continuously growing community, high buying demand, and the robust economy.
Investment Considerations for North Tustin Real Estate
There are a number of factors to consider, including:
- Low Vacancy Rates- The vacancy rate in North Tustin is 2.8% for single-family homes, which is lower than the national average of 7% and translates into a very high demand. This gives investors a distinct advantage when it comes to pricing. However, real estate investors have to consider that only 7.6% of the population is made out of renters, thus the place is currently more suitable as a buying and selling (flipping) market.
- Affordable Entry Price of Homes - The median home price in North Tustin is $1,104,700, which is considerably lower than other Orange County places; for example, the median home price in Newport Beach is $2,152,000. Moreover, the home appreciation rate in North Tustin has been 41.9% over the last decade. Hence, it's a good time to buy property and sell it later on, as the entry prices stay reasonable and the home appreciation rate is up by 13.1%. This will generate a good return on investment for real estate investors.
- High Appreciation Rates - As mentioned above, properties in North Tustin have experienced an appreciation rate that increased by 13.1% during recent years. Furthermore, it's estimated that it will continue rising by an additional 5.7% throughout 2018. This goes hand in hand with the relatively low property prices compared to the rest of the county. Real estate investors can translate that into recouping their investment and seeing profit.
- Growing Job Market - Thanks to its location, accessibility, and pleasant climate, North Tustin is a sought-after place for both companies and professionals. The 4.4% unemployment rate is lower than the US average of 5.2%. In addition, the job market has increased by 2.3% in 2017 and future job growth is predicted to be 40.1% over the next decade. The high median household income in North Tustin is $71,105, higher than the country's average. For real estate investors, this means a stable influx of active home buyers and renters and a steady profit.
What are the best neighborhoods to invest in North Tustin
- As a census-designated place, North Tustin doesn’t offer very diverse real estate markets. There are still many options to choose from, including a gated community by the name of Belle Rive and Barrett Hill, a part of North Tustin with larger properties. The single-family housing market is one of the most reliable and stable ones in the area, providing the ideal opportunity for real estate investment.
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