Located in the Sacramento metropolitan area, the city of Roseville attracts many residents making it an interesting area in Northern California for real estate investors.
Roseville used to be a railroad town, but has grown steadily through the years. Its economy has grown significantly and it has recently evolved into a technology hub for a number of companies. Moreover, several high-profile businesses have built their offices in the city, providing various job opportunities for its residents.
Because of its growing economy and job market, Roseville has become a favoured destinations for out of state residents. It’s for this reason why the Roseville real estate market is also showing so much promise.
If you’re an investor looking to buy an investment property in Roseville, it’s essential to understand the drivers of the Roseville real estate market. This can help you make the right decision when it comes to finding the perfect location for your investment.
Here are a few reasons why Roseville is a great place to live and invest in real estate in:
If you’re looking for a more affordable housing market in California to invest in, Roseville is a great choice. The city of Roseville offers one of the fairer housing in the Golden State, making this city a more favorable place for both homebuyers and investors.
California is generally an expensive state to live in. But some cities, including Roseville, offer an affordable option for those with a tighter on budget. With its suburban neighborhoods and unique houses available throughout the area, you’ll have better odds of finding a property that would make a profitable investment.
Lower Cost of Living
Aside from affordable housing, Roseville generally offers a lower cost of living compared to most other cities in California. Considering different factors like the cost of household goods and groceries, utilities, childcare, healthcare, transportation, housing, education, and other essential goods and services, Roseville is among the few cities in California that can be considered affordable.
The low cost of living attracts new residents to move into the city of Roseville. This means that the population is expected to grow at a steady pace. When a city has a strong population growth, it opens more opportunities for real estate investors. This is because new residents need somewhere to live.
As a result, rental property investors are more likely to find business and investment opportunities thanks to the population growth in the area.
Roseville is strategically located northeast of Sacramento. This means that residents of Roseville can access the Greater Sacramento area to take advantage of the various amenities.
However, for those who want to stay in Roseville, the city itself also has a lot to offer. It’s home to a wide range of shopping, entertainment, and dining options, as well as several amenities that residents of all ages can enjoy. It has has several schools, making it appealing to families.
Solid Job Market
Since the city has a thriving economy and a strong job market, residents can enjoy various job and business opportunities in Roseville. It offers several options for retail jobs and there are several positions available in service industries, which are among the strongest markets in Roseville.
On top of that, Roseville is a major player in the corporate business, technology-related industries, and railroad sectors. In fact, both the tech giant Hewlett-Packard and management consortium Kaiser have offices in Roseville.
Attractive to Families
Roseville, CA offers numerous, schooling options which is one of the many reasons why it’s attractive to families and other residers. There are several choices from public schools to private schools, including a number of high school alternatives for older children in the area.
Additionally, it has a lower crime rate, making it appealing to residents. Also, areas surrounding the city to the north and east have lower rates of crime compared to other major cities in the United States.
How to Find the Best Investment Property in Roseville
If you are ready to invest in Roseville real estate, it’s important to consider a few factors. Keep in mind that not all areas are optimal for investing in rentals. Look into the following before making an investment:
Demand for Rentals
Some neighborhoods may be more desirable than others. To know if there are enough demands for rentals, conduct a rental comparison within the neighborhood. By analyzing rental comps, you’ll see the occupancy rates of similar rental properties in the area. If the occupancy rates are good, then the demand may be high.
The amenities in the area should also be an important factor to consider when choosing which neighborhood to buy investment property. Amenities like recreational facilities, schools, public transportation, dining options, shopping centers, supermarkets, and medical services are essential.
To ensure that you invest in a safe area, check the crime rates in the neighborhood and visit the place too to see for yourself. Avoid buying a property in a location that seems isolated and abandoned.
It’s best to consider the availability of housing supplies when choosing a location. A place where there are too many listings available could be a red flag because there might not be sufficient demand for housing. On the other hand, a location with too little inventory may be too expensive. Find the right balance to get the best deal.
There are so many reasons to invest in Roseville, California. It’s affordability, steady population and job growth, and health economy, there are plenty of opportunities for investors. That said, when buying an investment property, it’s essential to do your research and establish your financial goals.
If you would like help managing your investment properties partner with the experts at JTS Property Management. We are qualified property managers with hands on experience in the local real estate market. Contact us today to learn about our services!