Due to the high appreciation rates in the more populous areas, California Rent to Own properties are a good way to get into the housing market if you don’t have a lot of money upfront for a down payment. A leasing period can give you extra time to save up for that initial sum and to fix any credit issues you may have. If you’re looking for great diversity, great opportunities, and great weather, the Golden State may be for you!
The Golden State is famous for its large economy, diverse climates and landscapes, sunny coastline, agriculture, and entertainment epicenter. California has the largest population in the United States and continues to grow at a fast pace, and prompting high property values in coastal areas in particular. The population growth averages around 0.9 percent annually mostly due in part to an influx of young professionals to tech hubs like Silicon Valley and Orange County, which is also where a bulk of the state’s job growth has been. Job growth in California continues to stay at 2.4 percent and unemployment sits at 7.4 percent. The median household income is $47,493 and the median family income is $53,025 annually.
Bay Bridge, San Francisco, CA Source: SF Traffic Law ClinicBuying Real Estate in California
As of the beginning of 2015, the median value of owned homes in California was $211,500 and the median asking price was $151,900 according to Trulia's Market Overview. Average sale prices for homes were relatively close to the following: 1 bedroom - $300,000, 2 bedrooms - $350,000, 3 bedrooms - $400,000, and 4 bedrooms - $500,000. Some of the most popular metro areas in the state are Los Angeles, San Francisco, and San Diego.
Statewide, school rankings are mixed between cities and counties, but most of the higher ranked schools reside in cities on the edges of metro areas. California has one of the best state university systems in the country, featuring universities such as UCLA, UCSD, and UC Berkeley, as well as private institutions such as USC.
According to Neighborhood Scout, violent crime rates are slightly above the 3.8 per 1,000 residents national average at 4.02 while property crime is 26.58 per 1,000 residents and is slightly lower than the 27.3 national average.
Big Sur, CA Via Keith's Caravans
Culture and Entertainment
One of the largest states in the nation, Cali offers an incredible range of cultural experiences and entertainment--hundreds of miles worth, in fact. California has many points of interest, including Hollywood, Napa Valley, Yosemite National Park, The Great Redwoods, and the world famous Pacific Coast Highway.