The San Fernando Valley, also known as just ‘The Valley, “ has a population of over 1.7 Million people covering over 224 square miles of space in densely compacted communities. The Valley’s proximity to Los Angeles proper and the Westside means there will always be high demand for rentals in this area especially when making San Fernando Valley apartment investments.
Two-thirds of the Valley actually is part of the City of Los Angeles. As in most parts of Los Angeles and even Southern California, home prices are not inexpensive, with the average home price in March 2016 running at about $592,900, many people find it hard to purchase here, and opt to rent in the San Fernando Valley instead. The market for rentals will only increase, as home prices are increasing.
An investor’s rental income in the Valley can be substantial: The average one bedroom apartment rents for $1850 while a 2 bedroom will go for $2021. These rates are increasing steadily.
What’s more, the Valley is home to the popular Cal State University Northridge; many students prefer to rent San Fernando Valley apartments rather than live in a campus dormitory.
The California Department of Transportation projects job growth in Los Angeles County (including the San Fernando Valley) between 2011-2016 will average 2 percent a year. The total projected job growth for all five years is 10.2 percent. Construction will be the fastest growing jobs sector and is projected to grow by 30 percent in that time, mostly due to the recovering housing market (including the construction of multi-family units).
Retail sales growth is expected to grow more than 21 percent (21.1 percent) between 2011-2016.
The San Fernando Valley apartments can be a great place to develop of invest in rental properties. The Valley itself is huge and is beloved (if sometimes also maligned) by many. It offers developers the chance to build or invest in apartment/rental units in which families and individuals can then work to build their dreams in one of the most-sought after of addresses in the nation: Los Angeles.
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