Areas to Watch Around Los Angeles
With its sunny skies, mild weather, and scenic views, has long been the city of dreams. The vibrant city offers plenty of things to see and do as well as a range of job opportunities with rising wages. Investors are finding their own opportunities in the City of Angels. The median home price increased by double digits for 16 months in a row between 2020 and 2022, and the appreciation rate hovers near 8%. This doesn’t appear to be changing any time soon, as developers cannot keep up with demand for housing.
Whether you’re looking for your first or seventh investment property in Los Angeles, it helps to know where to buy in this sprawling city. Here are some of the areas to watch around Los Angeles as you scout your next investment. They represent some of the fastest-growing parts of the city and offer important amenities to attract a variety of new residents.
Culver City
Home to Sony Pictures Studios, Culver City is a hot spot thanks to its proximity to the studio and growing media-tech industry. Apple has plans to expand its Culver City campus, potentially attracting even more people to the area. Residents get the best of suburban and urban worlds with a weekly farmer’s market as well as an assortment of popular restaurants and bars. Real estate in the area has appreciated nearly 97% over the last decade and just under 12% over the last year.
Mar Vista
The greatest attraction in Mar Vista may be its proximity to everything you need. It’s close enough to the Pacific that you get that laid-back beach vibe while still being able to commute to downtown. It’s even closer to West Los Angeles, nicknamed Silicon Beach thanks to the more than 500 tech companies operating there—including names like Google, Headspace, Hulu, and Postmates. Investors will find plenty of single-family homes and condos around, with many homes dating back to the 1930s. Properties sit along winding streets with large lots that offer residents plenty of privacy.
Huntington Beach
Riverside saw the fastest-growing rent in the Los Angeles area, but Huntington Beach came in second place. Home values also appreciated more than 22% last year, underscoring the potential of the neighborhood. This beachside spot at the southern reaches of the LA offers something for urban and suburban lifestyles, which is one reason it attracts a significant number of young professionals. Top-rated schools and long stretches of sand with popular surfing waters should continue to draw people in.
West Hills
West Hills in the Western San Fernando Valley earns high marks as one of the top neighborhoods in Los Angeles. Home to numerous historic landmarks and city parks, the area offers plenty of cultural opportunities for residents and visitors alike. Homes in the area have appreciated more than 22% in the last year, and demand doesn’t appear to be waning. West Hills is a hidden gem for real estate investors looking for a long-term investment, as there should be plenty of opportunities for renting.
Mid City West
Mid City West may be a quiet residential area, but it offers what many call a true LA experience. This diverse and welcoming neighborhood spreads out to the border of West Hollywood. In this rapidly growing area, home values have increased more than 5% in the last year. Rental properties remain in high demand, presenting opportunities for investors. Best of all, you’ll likely find less competition here, which increases your negotiating power. If you’re a first-time investor or looking for a bargain, you may find it here.
Connect With Our Los Angeles Team
Our OpenAiRE agents know the Los Angeles area and understand the potential of the current real estate market. Finding the home of your dreams takes time and expertise. If you’re looking for a home to live in, we can help you find the right neighborhood and layout to meet your family’s needs. If you want investment properties, we’re here to assist with the search and can offer tips for getting the most out of your investment. Let our agents get to know you and your plans so they can help you find the right property.