Why Invest in Sunnyvale, CA Real Estate?
Sunnyvale is settled in Santa Clara County and boasts great weather, cultural diversity, excellent public parks, as well as fantastic year-round cycling ops. Home to more than 152,000 residents, the city has seen a 0.78% population growth rate over the past few years, which is higher than the 0.7% national average. Sunnyvale attracts plenty of renters and active home buyers thanks to being one of the safest US cities, offering countless outdoor leisure ops, and having a well-established infrastructure.
With its prime location in Silicon Valley, Sunnyvale is a place with numerous opportunities for real estate investors. The city enables access to one of the most cutting-edge and powerful business environments in the world and is also internationally recognized for actively empowering entrepreneurship. Its economy is stable and constantly growing, supporting major industries like Information Technology and manufacturing. This heats up the local real estate scene and indicates that Sunnyvale is a smart call for real estate investors.
Investment Considerations for Sunnyvale Real Estate
There are a number of factors to consider, including:
- Job Growth- Amazon Lab126, Yahoo!, CleverTap, Infinera, NetApp, Support.com, and Vivante Corporation are just a few companies headquartered in Sunnyvale that create new jobs, enhance the area's talent pool, and generate revenue. As a result, the city's job market growth has increased by 3.3% in 2017 and the unemployment rate is currently 3.6%, lower than the national average of 5.2%. This translates into numerous buyers and renters moving to Sunnyvale and a stable cash flow likelihood for real estate investors.
- Emerging Tech Hub - Located reasonably close to awe-inspiring tech feeders like San Francisco, San Jose, and Stanford University, Sunnyvale has a big concentration of tech workers, startups, and entrepreneurs. As a matter of fact, Bosch has opened a Research and Technology Center, Google has just revealed its plans for a brand-new development project, and Apple has already built its third large California campus in Sunnyvale. Additionally, renowned tech businesses like Juniper Networks and Lockheed Marti are among the city's largest employers. Taking these aspects into consideration, it's obvious that Sunnyvale is one of the most desirable spots for huge tech firms and promising startups. This is very beneficial for real estate investors who can choose from tenants and buyers working in the high-paying tech sector, which makes them able to pay rent on time.
- Growing Rental Demand - Renters make up 50.8% of the city's population and the single-family properties vacancy rate is 4.2%. This means that the rental demand is high and, with even more people being drawn to Sunnyvale, it's constantly increasing. Ergo, real estate investors can enjoy a profitable rental income from their single-family rental properties.
- High Appreciation - Although properties in Sunnyvale are rather expensive, the home appreciation over the past decade has been 143.7%. Therefore, it's a good time for real estate investors to purchase single-family homes in the city and expect high returns on their investments, especially since the home appreciation is now up 28.7%.
What are the best neighborhoods to invest in Sunnyvale
- The best neighborhoods to invest in Sunnyvale are Sunnyvale West, Heritage District, Ponderosa Park, and Lakewood. Sunnyvale West inspires many students and young professionals to relocate here, thanks to its walkable distances to several places of interest. Heritage District features a nice dining scene and has well-maintained bike paths, hence young couples and light commuters find the area suitable for their needs. Ponderosa Park houses a mix of renters and house owners, has a laid-back vibe and is among the first 6.4% of retiree-friendly places. Lakewood is highly appreciated for its tidy architecture and peaceful atmosphere, drawing mostly baby boomers. As a result, each of these neighborhoods accommodates different requirements and is popular for different types of people; however, but all of them have a constant influx of individuals searching for a place to live. Thus, it will be easy for real estate investors to find tenants and buyers.
- Sunnyvale is a fast-growing city that enjoys a constantly increasing population and job market. Consequently, real estate investing is a wise option for investors in Sunnyvale.
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 Sunnyvale, CA; and across the United States and calculate home values RENTestimate for every property in Sunnyvale. If you’re looking for the best investment properties across the country, visit our comprehensive investment site.