The real estate market in Southern California has been booming for the past few years. With this growth, many investors have looked to Riverside, California as a prime location for future development opportunities. Casa Blanca is one such location that offers developers and investors an opportunity to invest in a brand new residential community right next door to the popular Temecula wine country. We explore whether or not Casa Blanca is worth investing in today.
Cost of Living
The cost of living in Riverside is slightly below the national average. The overall cost of living in Riverside is about five percent cheaper than other cities around the United States and, while real estate prices have been on the rise due to a growing population, they’re still lower here by $100-$200 per month when compared to larger coastal communities like Los Angeles or San Diego.
The unemployment rate in Riverside County has remained at six percent for 2017 which was less than half that of California’s twelve-percent jobless figure and comparable to more populated areas such as Orange County (four-point-six). These low statistics reflect an increasing demand for skilled workers, which will benefit those looking into Casa Blanca investment opportunities: While vacancies are expected to grow over the next five years, this job growth will be sufficient enough to absorb the expected increase in workers.
The crime rates for Riverside are typically higher than national averages but lower when compared with larger cities like Los Angeles or San Diego. The most dangerous place in California is considered to be Compton, which has a violent crime rate of over two hundred percent above the state average. Casa Blanca itself however has a similarly low crime rate that’s comparable to other locations throughout Southern California and it isn’t subject to any known gang violence either so investors can feel safe knowing their investment property won’t incur much danger on its own. There may however be some criminal activity along I-15 where drugs run rampant through certain sections of Temecula and Murrieta.
The school system in Riverside is considered to be some of the best anywhere in California with an API score of over eight hundred, which puts it on par with all but a few districts throughout the entire country. Casa Blanca has three public schools located within its boundaries: Temecula Creek Elementary School (grades K-fifth), Rancho Vista Continuation High School (grade twelve), and Chaparral High School (grades nine through twelve). All offer advanced placement courses as well as several other academic opportunities for students so parents can feel confident their children will receive one of the best educations available when they eventually buy property here.