California is easily one of the best states to start looking at investment property in. Spanning most of the West Coast, the state is home to the most popular state parks, beach getaways, city life and luxury living. There’s no shortage of diverse areas to invest in, but what are the hottest locations for rental properties in California?
Starting Up North In Yuba City
Yuba City has become the destination of choice for single professionals and families alike not just for living, but for vacations as well. It provides easy access to Sacramento for sunny days spent shopping and multiple lakes, primarily Folsom and Berryessa, ready to cool everyone off after a long day. Traditional rentals provide a comfortable return but the real opportunity here is vacation rentals through sites like Airbnb and Vrbo. These short-term rentals see a stunning occupancy rate of over 80% year-round thanks to the hospitable climate.
Median home price is currently $376,000 and rising so don’t miss the chance to invest before the next big boom.
Rancho Cordova, Sacramento County’s Short-Term Rental Paradise
Being located just outside of the Golden State’s capital, Rancho Cordova is home to over 55,000 commuters that consist of both long and short-term renters. While many residents choose to rent for the long haul, Airbnb and vacation rental prices are substantially higher at over $4,100 on average. Even with so many jobs already existing, the job market is still experiencing heavy growth with a projected 36% increase.
Remote workers will be looking to take advantage of luxury rentals and are willing to pay a premium thanks to lower costs associated with traditional commuting. Median house price is currently $411,630 and worth every penny.
Blythe Brings Affordable Living to Southern California
Not only are Blythe home prices some of the lowest in the region but cost of living is also below the national average. The city is located in the Colorado Desert, a section of the greater Sonoran Desert, making it ideal for those wanting summer all year long. Retirees looking for long-term rentals create safe investment opportunities and Airbnb listings can see cash-on-cash returns of up to 8.5%.
With access to a diverse set of biomes, residents can enjoy lakes, national forests, deserts and even a small sea to satisfy the strongest wanderlusts out there. Median home prices are as beautiful as the area, coming in at $173,988.
Lake Los Angeles Is Hollywood’s Nature Hotspot
Being just over an hour north of LA, Lake Los Angeles has been the site for directors to get the perfect backdrop of nature in various shows, commercials and movies. If you’re looking for short-term rentals with your investment property, this may be exactly what you’ve been needing as film crews come and go with plenty of budget to work with.
Long-term rentals also do extremely well in the area with current monthly rent being just over $1,200 and median home prices at $284,515.
The Potempa Team Knows California
And we’re ready to help you get to know this amazing state too. Being a leader in home lending means only doing business in areas that we have seen true potential and realized gains with California being one of the top performing states to date. Get started with an online pre-approval or give our team a shout to discuss and find your perfect loan type and terms today!