Finding affordable housing in Los Angeles County is pretty much unheard of unless you live out on the outskirts of the Los Angeles County borders. Then we see young professionals commuting into the city more than an hour, heck, if you are an Angeleno you are most likely commuting to work anyway. However, why not make it worth the commute, an average monthly apartment rent in Los Angeles County is around $2,300 a month for a two-bedroom apartment. On average California, statewide rents increase about 4.3 percent and last year Southern California grew by 5 percent.
Affordable Housing in Los Angeles with no waiting list
Where can you find in Los Angeles a comparable mortgage payment to your rent and get the benefits of homeownership in Los Angeles? Although it’s hard to see any hidden gems in Los Angeles, there are still a few up-and-coming neighborhoods where the first-time homebuyer can be close to living with all amenities and without spending a fortune. The LA County needs a lot of new units of affordable housing to satisfy demand from very low and extremely low-income earners.
Most first-time homebuyers usually start with a condominium or townhome. For Example, home purchase for about $520,000 on average will result in a mortgage around $2,800.00. If you could find a single-family residence, condominium or an apartment, why would you pay rent?
Low Income Housing Opportunities in Los Angeles
Communities are always changing, with new construction and venues moving into the South Bay of Southern California. Take Inglewood, Los Angeles, CA the “City of Champions” for example, since 2016 and the promise of the new Rams Stadium, values are on the move but still affordable. Currently, home to popular event and concert venue “The Forum,” Inglewood, CA Real Estate has plans for such growth that will bring international recognition. Inglewood will soon be home to a new generation of young professionals with plenty of entertainment. A commute from L.A. Inglewood is centrally located near the 405 freeway and the 105 highway. Also, the thoroughfares for LA Cienega and LA Brea Boulevards make it convenient for almost everything on the westside of Los Angeles. Now, let’s not forget the upgraded L.A Metro’s new Crenshaw/LAX line will connect Inglewood areas further north and east by 2019.
The Wrigley Area of Long Beach boasts excellent opportunities with Spanish Style single family homes built in the 1920’s thru about the 1940’s with the historic tile roof tops, hardwood floors and wide tree lined streets. Median home prices in Wrigley are valued between $500,000 and $600,000.
Now if one wants to block from the beach, then you may want to check out the affordable Alamitos Beach, or near Cherry Park, you will find two bedroom Condos blocks from the beach for under $500,000. And less than a mile and a half from downtown Long Beach, Los Angeles, Southern California, where you will find shopping, dining, and nightlife.
So, your affordable home search is not entirely difficult. It does take some time to find that right home in the location that makes sense to you. However, as a buyer, you must equip yourself with education and the right tools which will make all the difference when making one of your most significant commitments and investments. You don’t have to be the expert this is why you hire the right real estate agent.
Please start with Progress Real Estate Group’s website http://progressreg.com and read over the helpful information about investing in property and take advantage of some “Free Reports,” that could help you make a significant property investment.
There is no obligation and why not start interviewing an agent today. Feel free to reach out to Progress Real Estate Group and one of our agents will assist you.