L.A’s topmost affordable neighborhoods, by Adrian Bates.

By Adrian Bates

L.A’s Top Most Affordable Neighborhoods

Los Angeles has a reputation for being one of the most expensive cities in the country.

But is it?

You might be surprised that L.A maybe actually more affordable than you may otherwise presume. So we are going to give you a quick snapshot of LA’s most affordable neighborhoods.

Over the last two years, the cost of homes has been skyrocketing almost everywhere, which makes it worse for LA, a city known for its notoriously high prices for real estate.

I think one of the lessons COVID-19 taught many people is the need to save. People are opting to save money. Look at home preferences and the choice of neighborhoods for many people. You’ll realize a pattern emerging wherein there’s a general preference for neighborhoods that are either farther away from the city or more affordable.

Earlier this year, The Power Is Now Media published an article titled “The Great South Migration: An Era-shaping Exodus for the Northerners real estate markets” on the August Issue of The Power Is Now Magazine, which highlighted the affordability crisis and why people are moving south. In case you haven’t read the article, here is the link; https://www. thepowerisnow.com/the-power-is-now-magazineaugust-2021/.

California certainly is in a crisis that cannot be solved by economic recovery but by building more AFFORDABLE homes!

One of the questions I get frequently asked is, “can I get an affordable home in LA?”

Well, yes, you can! And one of the myths I would like to debunk is LA is actually not an expensive city. Although some areas are, that doesn’t mean that it’s like that everywhere.

SO, WHERE CAN YOU FIND AFFORDABLE HOMES IN LA?

1. LANCASTER

MEDIAN HOME SALES PRICE $430,000

Redfin reports that Lancaster home prices were up 22.2% Y-O-Y in September, selling for a median price of $430,000.

Lancaster has been a strong seller’s market, with homes staying on the market for an average of 14 days. This means that competition has been relatively high. So what are you waiting for? It’s time to buy!

Lancaster is one of the main cities in the Antelope Valley region. It is about 60 miles from downtown LA setting it apart as a cool retreat from the hustle and noise of the big city, but not that far that it is impractical to visit. But, of course, who wouldn’t want that?

As of 2019 Census Bureau Data, about 160,000 people were living in Lancaster. It has all the amenities you’d expect in a mid-sized city but what qualifies it first on my list is the number of outdoor activities available.

Some of the outdoor activities in Lancaster include; the San Gabriel and Tehachapi mountains, Joshua trees, and several ski resorts within an hour’s drive.

2. WATTS

MEDIAN HOME SALES PRICE $460,000

Going by the data provided by Redfin, Watts neighborhood had a median sales price of $460,000, which was up 4.3% Y-O-Y. On average, homes stayed on the market for 29 days, which qualifies it as one of the affordable places in South LA. Many people living in Watts are mostly longtime residents and have witnessed steady growth and changes throughout the years.

There are shopping malls both new and renovated as well as many recreational facilities.

One thing you’ll love about Watts is that it is easy to survive without a car! If you would love to forgo using a vehicle, numerous public transit options are available for commuters.

3. PALMDALE

MEDIAN HOME SALES PRICE $470,000

Palmdale market has seen an appreciation rate of 14.6% year over year, a good return for the real estate investor. On average, the home stayed on the market for not more than 14 days which shows a strong buyer appetite.

I love Palmdale because it sits far from all the city noise, just like its twin city Lancaster.

In addition, Palmdale’s economy is thriving thanks to the large aerospace employers Lockheed Martin and Northrop Grumman.

If you are interested in outdoor activities, Palmdale is the place to be, and a must-see feature is the Palmdale Amphitheater- an outdoor arena that seats 10,000- and the Rancho Vista Golf Course. There’s a whole new world to be discovered in Palmdale, and I cannot wait to share it with you!

4. PARAMOUNT

MEDIAN HOME SALES PRICE $502,500

Coming in fourth place is Paramount. Redfin data shows that the home prices in this region were up 20.5% in September compared to last year and stayed on the market for an average of 14 days.

But what makes paramount exceptional?

Its relatively affordable compared to its neighbors- long beach ($801K), Compton ($550K), and South Gate (627.5K).

Paramount is one of the places to settle down if you are looking for a rich and diverse experience.

I love it because of its many parks (10 in total), which offer a serene environment just to relax and enjoy the wonders of nature. These parks have fishing ponds, jogging trails, and skate ramps.

It is the best place to enjoy California’s sunshine.

5. FLORENCE

MEDIAN HOME SALES PRICE $522,500

According to Redfin, in September, B.A.L.Ame prices in Florence increased 18.8% compared to the same period last year. It is a strong seller’s market where homes stay in the market for less than 22 days.

Is it affordable? L.A.’ll let you be the judge and answer that question, but Florence has always struck me as one of the most affordable, parkfilled suburbs in L.A. It is located in South LA., and many homes are single-family residences with a few scattered condominiums. What You’ll love about this suburb is how easy it is to get to stores as well as there are so many fast food options available.

Lastly, Florence is full of culture, and residents consider their neighborhood an epicenter of South LA Living.

Want to check Florence out? Reach out today, and let me show you one of the best places to experience a true southern L.A. lifestyle!

To consider what makes a city/neighborhood affordable, there are some factors I had to put into consideration. These are;

• The cost of living. • The median home value. • The affordability ratio.

When these figures are averaged, they give an overall score which is how I compiled the data above for the five most affordable neighborhoods To learn more about these neighborhoods, reach out to Adrian Bates, The Power Is Now VIP Agent in Los Angeles County. Or, you can reach out to Eric Lawrence Frazier MBA today a mortgage professional with over 30 years of experience. You can reach Eric at 800-261-1634 ext. 703.

ADRIAN BATES

DRE#00929036 | Los Angeles

Adrian Bates graduated from Cal State University with her B.A. in Psychology (Business Management minor) in 1980. The former aerospace contract negotiator became a real estate sales agent in 1985 and then a broker in 1990.

In April of 1995, property sales across America were on a serious downturn, yet a young and determined Adrian Bates opened A-1 Realty in Los Angeles, CA. With her fortitude and divine help from God above, her team two grew into a team of eleven agents by November 1996. Click here to learn more about Adrian.

ABOUT THE POWER IS NOW MEDIA

The Power Is Now Media is an online multimedia company founded in 2009 by Eric L. Frazier, MBA, headquartered in Riverside, California. We are advocates for homeownership, wealth building, and financial literacy for low to moderate-income and minority communities. The Power Is Now Media corporate office is located at 3739 6th Street Riverside, CA 92501. Ph: 800-401-8994 Website: www.thepowerisnow.com.

Sources

https://www.neighborhoods.com/blog/the-10-most-affordable-neighborhoodsin-los-angeles https://www.movoto.com/guide/los-angeles-ca/affordable-los-angeles-suburbs/