Where are people moving to within California

Question

Hey BP,

I am trying to look for the migration patterns within California but I can't seem to find much. All I really find is that everyone and their mom is moving out of here! I am specifically looking at the Inland Empire area. The only information I found is that people are moving out of Riverside. Does anyone on here have any tips or resources where I can find this type of information?

Thank you in advance!

Su Pak · Answer

I'm currently investing in the IE even though I live in LA (originally grew up in the IE). Here are some reports I found helpful. You'll notice Riverside shows up on these lists. Hope this helps.

https://www.apartmentguide.com...

https://www.noradarealestate.c...

Also, here's a news article I just sent to my business partner about economic growth in San Bernardino. Yes, actual San Bernardino!

https://www.sbsun.com/2021/03/30/tesla-to-operate-out-of-320000-square-foot-warehouse-in-san-bernardino/

Plus, there have been numerous Amazon distribution centers that have opened up across the IE. And in Highland, San Manuel Casino will be expanding and creating a resort hotel, which means more jobs.

Reba Marabotto · Answer

@Priscila De La Torre Hi Priscilla! I’m a local agent here in Temecula. I’ve been doing real estate here for since 2007. Although We did have a lot of families move out of state  these past few months, they were able to take advantage of the equity they built and sold for prices they weren’t expecting to get so soon. But this was because we have so many families coming in from outside counties taking advantage of their own equity in their sales from San Diego, Orange and Los Angeles counties. This drive prices higher than a year ago. It became a Win Win for both buyers and sellers. This was the migration out of state for sellers, and IN to Temecula and Murrieta for buyers.

You definitely get more for your money here, and really god school districts. I expect the trend to continue, so don’t let the articles you’re reading to scare you off. I just listed a rental for $3200 for my client and already have qualified applications coming in. Prices are up in Temecula, but so are rental prices. Our prices are still much lower than other counties. AND it’s beautiful here!

Good luck to you in your research. And I’m available for questions and help if you need me.

Justin Phillips · Answer

The Temecula/Murrieta/Menifee area is blowing up like crazy. When we moved to Phoenix we were conflicted as to if we should sell our property in Murrieta or keep it as a rental. We ended up putting it on a 1st position heloc as the best of both worlds. We've gotten the great appreciation, and have access to the equity for AZ investments. Temecula Valley is a great family friendly area that I expect to keep growing.

Courtney M. · Answer

My husband and I moved to Lake Elsinore 8 years ago. The Ortega highway connects Lake Elsinore and OC, so there was a trend of people moving out because you could get a much bigger house. The trend was people would move out after about 5 years, but lately with WFH the area is super hot. We bought our house for about $420k and it's valued at around $600k now. Very curious to see how these trends hold up. I agree in the summer it's very hot and if you grew up near the beach, it's not likely you'll stay long-term.

Twana Rasoul · Answer

@Priscila De La Torre I don’t know about actual stats but I’ve been working with a growing number of individuals out of the San Francisco and San Jose area that are moving to San Diego since they are able to work remotely. San Diego has nicer weather, it’s more affordable and appreciation is forecasted to be much faster here over the next couple of years.

Javaughn Fernanders · Answer

I went to college then lived in the IE for 6 years after. It is a economically and culturally diverse area with lots to do even in the 90s. Its hot as HELL and the bad areas can be really bad. But great mix of blue and white collar labor and industry. I miss it sometimes. The only wierd thing is everyone who lives there hates it and wants to move "up north" or near the beach...but then they miss it and want to come back.

Maria Membreno · Answer

@Su Pak Great into Su. I’m excited about Tesla coming to the IE.  IE is growing rapidly, home sales are getting hotter.

Luis Cruz · Answer

Hey @Priscila De La Torre!

While California has had some net migrations out of state, most of the migration patterns have been happening within the state with populations moving out of the dense urban areas into the tertiary markets & surrounding counties - as has been the case across the US.

Specifically, in SoCal a lot of the population has been moving out of LA city and into areas like Ventura County, North OC, San Bernardino County, and SFV.

It's interesting you mentioned people moving out of Riverside, from experience with buyers & agents my understanding was that it's been a hot market.

Shaun Weekes · Answer

@Lara Fernandez Can help you with finding a great place in the I.E.  She is a Realtor in the area and extremely knowledgeable.

BP, I'm just giving information to help and answer Priscila's question.

Where are people moving to within California

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