Why Invest in San Carlos Real Estate?
Investing in single-home properties in San Carlos can be well worth as long as you take into consideration certain aspects regarding the city's population, rental demand, and economy. The area is peaceful, safe, and currently hosts over 29,000 residents. The population growth rate was 1.79% in 2017, which is significantly higher than the national average of 0.7%. The city hosts top-rated elementary and middle schools, which attracts numerous families to young children. Plus, it's very convenient for San Carlos residents to commute to both San Francisco and San Jose.
Over the recent years, San Carlos has experienced economic growth and diversification. Regarding industries, Biotech, IT, education services, and retail are some of the major ones. The area's economic development translates into a considerable number of tenants and renters.
As a consequence of its solid economy, high population growth rate, and access to high-quality education and healthcare ops, real estate investors in San Carlos can enjoy high returns on their property investments.
Investment Considerations for San Carlos Real Estate
There are a number of factors to consider, including:
- Job growth – With a vibrant job scene, San Carlos is the place where world-famous Tesla's original headquarters have been located. Nowadays, the city's economy is still strong and consistently growing. Companies like ShopNow, Bluescape, Natera, and MarkLogic are based in the area and are just a few examples of organizations sustaining job growth. Thanks to its plethora of firms from different industries as well as its proximity to Silicon Valley, San Carlos is attracting more and more professionals looking to expand their career. The city has enjoyed a job market increase of 3.8%, in 2017. This is great news for real estate investors who can choose from many employed tenants able to pay their rent on time.
- Popular living destination – Much quieter than the buzz rest of the Bay Area, San Carlos is a popular living destination among people who prefer a peaceful city. Numerous young parents choose to move here because of the family-oriented community, access to quality education options, and the area's unique character. Besides that, the city has a vibrant downtown with nice restaurants and shops. Real estate investors will benefit from San Carlos’ popularity, as there are many potential renters and buyers looking for a place to live in.
- Increasing rental demand - Population of San Carlos is continuously growing and so is the rental demand. Thanks to its peaceful vibe and first-class elementary and middle education schools, the city is seen as a perfect place to start a family. Therefore, there's an insatiable demand for renting homes. Real estate investors in single-family homes can have peace of mind that finding tenants for their property will be a quick and easy process. Not to mention the low interest rates and favorable economic conditions, which makes it even more advantageous for investors to purchase and rent out properties in San Carlos.
- Growing rent prices - As rental demand grows and vacancy rates stay low, rent prices are steadily going up. There are about 27% rent-occupied units in San Carlos and approximately 2.5% vacancy rate. This means that an important amount of population consists of renters. The median gross rent has increased from $1,454 in 2010 to $1,849 in 2017. Hence, real estate investors will recoup their investment and start seeing a profit pretty quickly.
What are the Best Neighborhoods to Invest in San Carlos
As rent prices go up throughout the city, it might be a good time for real estate investors to consider any San Carlos neighborhood. Another reason for that is the 11.25% home appreciation that the area has experienced over the last decade.
With an attractive setting and year-round friendly climate, San Carlos offers decent opportunities for real estate investors. Quality education access, job growth, and location are just a few factors that make the city a nice alternative with good returns on property investments.
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