Home to Disneyland
Discover Anaheim's Real Estate
A city in Orange County, California, it has the highest population of cities in its county and tenth-highest in the state. It is also the second-biggest city by landmass in Orange county. Home to Anaheim Ducks and LA Angels.
Culture, History, and Business
The city, now known as Anaheim, was founded in 1857 by fifty German families. The city was placed in Los Angeles county in 1876 as a second city. Orange County, which Anaheim is inclusive, was split from Los Angeles County by 1889. Anaheim was an agricultural community before 1955 when Disneyland was established. The city has industrialized ever since then.
Anaheim’s local economy boasts some solid economic and financial indicators. The city’s biggest industrial activities come in the manufacturing, business services, retail trade, and healthcare sectors. Tourism also contributes significantly to the economy. The city is also strong economically because of the growing job rates and decreasing unemployment rates. Within the last twelve months, the job market in the city grew by 0.6% with future job growth within the city over the next decade, estimated to be an impressive 32.5% though slightly lower than the national average of 33.5%.
Anaheim residents have an annual average income of $23,990, while the median household income is $59,707 annually.
Real Estate Appeal
Anaheim’s rental demands are peaking. The city also has a vacancy rate of 4.1%. The cumulative appreciation rate for Anaheim’s housing market in the past decade was over 14%. The high demand for rental houses and apartments in the city has seen the prices of rent shoot up by 8.64% since 2017. Traditional rental properties have a rental return of $2,763 at a CoC return and a cap rate of 2.22. Similarly, the rental return and CoC return-cap rate for short-term vacation rentals are $4,121 and 4.84%, respectively.
Rental yields at the city center are at a rate of 8.93% while outside the city center is 8.47%. The cost of renting a three-bedroom in the city center and outside the city is $3014.50 and $2708.64, respectively. The cost of an apartment in the city center is $4258.92 per sq. meter while outside the city center cost $4003.57 per sq. Meter.
The subsequent articles will introduce you to reasons why you should consider Anaheim as a destination for real estate investment, and the hottest neighborhoods to invest in the city.
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Attractive Investments In Anaheim
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