Glendora Market Outlook
Hello BP community!
I've lived in Glendora CA most of my life and have been noticing the changes to the community over these past few years and could use some insight on what this means for the market. Soon there will be a train that goes from Glendora into Los Angeles. This has promoted a whirl wind of developments. There is over 400 new apartments being built within a mile of where the train station should be, rents to start at 1800 a month. This building is now the fist of it's kind to block the view of the mountains. There are also numerous other new housing developments. My question is what might this mean for the market? Have you seen this elsewhere and what can be expected? Does new housing to this magnitude dilute the market? Or will median prices rentals have a bump in demand?
For perspective homes seem to rent from 1600-2500 in this area and a "cheap" home is around the mid 300 to low 400k mark once you are north of foothill prices seem to climb.
Also, does the inclusion of transportation increase rents/prices in relation to the savings over private transportation ?
Best,
Gregory Lomelin