Just two hours from downtown Los Angeles and just an hour or so from the San Fernando Valley, Ventura County has become the go-to spot for people who want to live near the coast but still be near enough to enjoy the job and cultural opportunities offered by LA and the Valley.
Home prices in Ventura County tend to be relatively high when compared to several other areas of the Los Angeles region; hence many people rent in the area instead of purchase. The median price of a home in the Ventura Metro area (near the city of Ventura) was $630,250 in December 2016, making the ability to purchase a home difficult for many people.
What’s more, Ventura County is home to the California State University Channel Island campus; many of its undergraduates and graduate students prefer to live in apartments than in the dorms. The opportunity to find an apartment is limitless when search for a Ventura County apartment for sale.
What type of monthly income could you expect from investing in just one two-bedroom apartment unit? The average rent for a two-bedroom Ventura County apartments as of December 2016 was $2031. One-bedroom units averaged a monthly rental price of $1585.
The U.S. Census Bureau reports that the population of Ventura County grew by 3.3 percent between 2010 and 2015. It’s expected to continue to increase. This is good news for those making a Ventura County apartment investment in rental properties because many newcomers to an area choose to rent rather than buy as they get know their new community.
The average job growth between 2011 and 2016 should be about 2.2 percent per year, according to the California Department of Transportation, with a total job growth projection of 11.5 percent within those five years.
Cal DOT projects an expected retail sales growth of more than 25 percent (25.6 percent), with the construction sector leading the way in jobs creation.
Ventura County is a very desirable place to live, attracting homeowners and renters alike. It offers residents temperate sea breezes by the ocean, as well as warmer weather just a few miles inland. It’s close enough to enjoy all the amenities offered by the Los Angeles area, but far enough away to provide a smaller-town, friendlier feeling.
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