Riverside, CA

Population: 316,619
Average annual home appreciation rate: 10.93%
Total of homes for sale in this market: 969
Median home price: $325,692
Median Rent: $1,272 per room
Home price range: 32.89% of homes are between $276,001 – $414,000
Median sales price: $312,500
Number of homes: 1,029
Median foreclosure sales price: $285,000
Foreclosure discount: 9%
Most common home type: 63.93% of homes are single family detached
Number of vacant homes: 8.34%
Number of renters: 45.55%
Number of owner occupied: 54.45%
Number people living below poverty level: 19.08%
Unemployment rate: 6.70%
Is this area perfect for real estate deals going on right now? There are some great things going on in the Riverside market that are very appealing to the savvy real estate investor. 1. Strong appreciation rate, and a decades worth of positive growth. 2. More “troubled” properties on the market than normal homes for sale (great opportunity for cash investors working with motivated sellers) 3. High rental rates 4. High unemployment rates 5. Great discounts on foreclosed properties (12%) There are other strong indicators pointing to positive ROI in this market. Savvy investors will be taking advantage of these now, and in the near future.

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