Why Invest in Walnut Creek, CA Real Estate?
Walnut Creek is a wise option for real estate investors in single-family properties. The city boasts scenic outdoor destinations, a sundry restaurant scene, fascinating cultural attractions, and a wide range of amenities including access to quality educational and healthcare facilities. With a population nearing 70,000 residents, Walnut Creek has seen a 0.64% increase in the number of inhabitants in 2017.
The Jewel of the East Bay is located in Contra Costa County, close to Oakland and San Francisco. Featuring BART access, Walnut Creek is a place where communing to other Bay Area's cities is extremely convenient. Its thriving economy is renowned for a diverse business environment grounded in key sectors such as educational services, healthcare, social assistance, finance, insurance, and IT.
As a consequence of the expanding job market, population growth, various leisure ops, access to state-of-the-art healthcare and educational institutions, as well as good public transportation, Walnut Creek is a smart choice for real estate investors.
Investment Considerations for Walnut Creek Real Estate
There are a number of factors to consider, including:
- Affordable Entry Prices of Homes- The median home price in Walnut Creek is $798,000, which is significantly lower in comparison to other Bay Area places. In fact, single-family homes are currently selling for as low as $535,500. Moreover, the city is building new housing properties, which can possibly lead to a slight price decrease. It's also important to mention that in 2017, the home values in Walnut Creek have gone up 4.3% and they're expected to rise 7.1% in 2018. For real estate investors who purchase single-family homes, this means a steady year-round stream of income as well as high returns on their investments.
- Job Market Growth - With a 2.6% job market growth in 2017 and a low unemployment rate of 3.3%, Walnut Creek is a good place to work. Its solid economy helps the tax base and assists the city in attracting and retain skilled professionals, retailers, and new industries. Major corporations are drawn to Walnut Creek; for example, the California State Automobile Association relocated its headquarters here in 2011. Plus, as a result of the tight-knit community's strong support, small businesses have the possibility to thrive. Thus, real estate investors can easily find employed tenants that will afford paying rent on time.
- Increasing Rental Demand - The plethora of new jobs and population growth lead to a constantly increasing rental demand. Highly-paid tech workers consider Walnut Creek a convenient place to move to, thanks to its location and affordability compared to other Bay Area spots. This translates into a healthy real estate market, which is beneficial for investors in rental properties.
- Rent Prices Growth - With such high rental demand, rent prices have gone up as well. Walnut Creek is a city where a lot of young workers, families with children, and retirees keep arriving at, and this is proven by the continuously rising population. Real estate investors can, therefore, enjoy a positive cash flow likelihood along with increasing profits.
What are the best neighborhoods to invest in Walnut Creek
- Areas like Wild Oak, Bancroft, and Saranap are the top neighborhoods for rental single-family properties. All of them are sought-after by families with children, thanks to their proximity to great public schools. They also have high safe rankings, are close to outdoor attractions, walkable, boast many restaurants, and other attractive leisure ops. So, besides families with children, single professionals, and retirees are inspired to move here, which results in a growing rental demand and a stable market.
- Walnut Oak is a city that experiences an ongoing development and a robust economy, hence a profitable option for real estate investors in single-family properties.
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 Walnut Creek, CA; and across the United States and calculate home values RENTestimate for every property in Walnut Creek. If you’re looking for the best investment properties across the country, visit our comprehensive investment site.