Why Invest in Yorba Linda, CA Real Estate?
Renowned as the birthplace of Richard Nixon, Yorba Linda gifts its residents and tourists with sunny weather, beautiful nature, well-developed infrastructure, a diverse dining and shopping scene, as well as a wide range of leisure ops. Besides that, the city has a new property development on the way, which makes it very promising for real estate investors.
Yorba Linda's healthy and diverse economy is supporting key industries like retail, manufacturing, and healthcare services and attracting well-established companies and startups. The low unemployment rate along with a higher personal income than the US average are other top reasons why renters and active buyers are attracted to the city, thus local real estate is a safe choice for investment.
As an area with affordable properties and steadily rising appreciation rates, Yorba Linda is one of the few cities in the Orange County that could truly be called a buyer’s market.
Investment Considerations for Yorba Linda Real Estate
There are a number of factors to consider, including:
- Job market growth - Yorba Linda boasts a low unemployment rate of 2.7%, significantly lower than the 5.2% national average. In addition, the job growth went up by 2.3% during 2017. Major industries like healthcare services, retail, and manufacturing have companies with key offices in the city. With a median household income of $120,178, the area draws both tenants and buyers. This translates into a steady cash flow likelihood for real estate investors.
- Strong homebuyer activity - During 2016, Yorba Linda saw a 3.9% increase in the number of sold properties. This is 3.6% higher than the increase experienced by the county within the same time period. This indicates a strong homebuyer activity, which could drive the prices up, but also make achieving a profit easier.
- Affordable entry price of homes - Yorba Linda is a wealthy city with many property developments being built, yet the entry prices of the houses are still relatively affordable. The median home price is $852,700, while in nearby cities it often goes above $1,000,000. Moreover, home prices currently start from as low as $799,998. For real estate investors, this means a wider range of properties within a predetermined budget.
- Real estate developments - A number of top-quality builders, including Toll Brothers, Brandywine Homes and Pulte Homes, operate in Yorba Linda on a regular basis. Toll Brothers’ 2018 project will include building a large number of luxury units on around 30 acres of land. This is a strong indicator of a healthy real estate market; therefore, investors have multiple options and can benefit from the pocket-friendly prices, job market growth, and intense homebuyer activity.
What are the best neighborhoods to invest in Yorba Linda?
- Thanks to the city’s numerous ongoing development plans, properties throughout the entire Yorba Linda show a lot of promise. However, there are still some parts that boast a higher appreciation rate than the rest, including Gun Club Road, Village Center Drive and Bastanchury Road.
- Yorba Linda is a stellar opportunity for real estate investors to own single-family homes. The fast-growing city enjoys affordable properties, strong homebuyer activity, job market growth, and a steady development, which make real estate investing in Yorba Linda a wise decision.
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