Things to Know Before Investing in Riverside Real Estate

From the first golf course and orchards in California, Riverside has undergone many changes that reflect a community of creativity and innovation. Riverside proves to be one of the cities to watch for in the realm of commerce & growth. With increased migration growth from Orange County & Los Angeles; commuting has been an affordable alternative for families, entry-level buyers & investors. If you are considering buying soon this sought-after City offers plenty of amenities to invest in real estate.

Investment Considerations for Riverside Real Estate

Before you decide to take a chance on investing in Riverside real estate, you should also become familiar with the factors that are driving the real estate market in this area.

Fast Appreciation

Housing in Riverside has appreciated far above the national average—According to IVAR (Inland Valley Association of Realtors) over the past 12 months reported as of June 2022. With that rapid appreciation rate for Riverside real estate, this area has drawn attention to its housing market considering the growing equity. Thus, investors can anticipate a sizable return.

Rental Price Increase

With a growing demand for housing and even a shortage of places to live, rental rates are going up steadily. Just in the last year, rents have gone up by 11% according to local demographics. In addition to the rising prices, the vacancy rate remains low, with 2016 seeing a rate of 4.36%. So, when you combine increasing rental prices, few vacancies, and high demand, investing in Riverside real estate could produce a consistent year-round income.

Job Growth

Although Riverside has not experienced the same growth as the bigger cities in the past, it is still on the receiving end of the migration away from highly populous areas. Plus, it is located in an industrial hub surrounded by incoming warehouses & businesses. This situation translates to job growth, which in turn, increases the demand for housing. Conclusively, real estate investors would find a lucrative market to dive into.

Investment Timing

Riverside’s real estate market has been on the rise, making it an attractive prospect for investors looking for substantial returns. Its proximity to major urban centers like Los Angeles and Orange County, coupled with a thriving arts and entertainment scene, offers a unique blend of affordability and quality of life. Riverside’s allure as an investment destination continues to grow, presenting a promising opportunity in the real estate market.

Quality of Life

Riverside, California, is an exceptional place to live and invest in real estate. Its prime location near Los Angeles and Orange County, along with a convenient commuting system like Fasttrack, offers urban access with ease. Riverside’s cultural vibrancy shines through venues like Riverside Arts Center and Fox Performing Arts Center, while its iconic navel orange orchards add a unique charm. A robust job market and lower living costs make it an appealing choice for those seeking quality of life and real estate investors seeking promising opportunities.

Riverside’s Attractions

Riverside, California, is known for its vibrant cultural scene, featuring popular venues like the Riverside Arts Center and Fox Performing Arts Center, offering a variety of performances and entertainment. The city boasts a diverse culinary landscape with local eateries catering to all tastes. Riverside is also home to museums and hosts the enchanting Festival of Lights during the holidays. Notably, Riverside’s scenic navel orange orchards, symbolizing its agricultural history, add a unique charm to the city, making it a blend of culture, history, and natural beauty.

Higher Education

Riverside’s higher education scene is made up of a diversified set of institutions that offer a variety of academic programmes. Riverside is an appealing place for anyone seeking educational and employment possibilities because of these alternatives for both students and staff. Riverside’s higher education landscape provides a conducive environment for academic advancement and inquiry, whether you’re interested in research, liberal arts, or technical disciplines.

Why choose Legacy Homes Real Estate, before Investing?

With over 20 years of experience, Legacy Homes Real Estate is your trusted partner for real estate endeavors in Riverside and its environs. As a family-owned company, we prioritize trust and offer personalized service to guide you through buying or selling properties. We provide essential, up-to-date information on school ratings, crime reports, and local real estate developments, empowering you to make informed investment decisions. Our deep market insights and local expertise ensure you find the right opportunities and navigate local regulations seamlessly. Whether you’re just starting or need to adapt your portfolio to changing market conditions, count on Legacy Homes Real Estate for successful Riverside real estate investments. For more information and current property listings, contact us.

Riverside Real Estate FAQ

Is Riverside a good place to invest?

With more people currently seeking homes outside of L.A., Orange County & Santa Barbara the cost of living is lower than in these major metropolitan locations, now would be a suitable time to invest in Riverside. This location also offers many amenities that families are looking for in relation to schools, shopping, and entertainment but without the heavy traffic and overcrowding. Thus, you can seize this opportunity to meet the higher demand for affordable housing.

Why is Riverside a Good Place to Live?

Riverside is a close drive to LA & Orange County & the ability to use Fasttrack as a helpful commute lesson the time to travel. Riverside City also has attractive areas of arts and entertainment with a thriving agricultural industry and commerce, and a healthy job market. Furthermore, the cost of living is much lower than in L.A. and San Diego.

What is the cost of housing in Riverside, CA?

The average cost of homes in Riverside according to Zillow is $646,347. On the other hand, entry prices fall into the range of $425k for a 3 bedroom, 2 bath Single Family dwelling.

What is Riverside known for?

Aside from being the place where famous artists, like Blink 182, got their start, Riverside is home to some popular concert venues such as Riverside Arts Center, Fox Performing Arts Center and local eateries like The Food Lab. These areas are also well known for their museums and art centers, not to mention their annual Festival of Lights in Downtown Riverside. The surrounding areas are also filled with scenic navel orange orchards, the citrus that has become Riverside’s trademark. Additionally, Riverside offers options in the realm of higher education with four colleges and universities.