Come to Fast Growing Moreno Valley

An area once comprised of three rural communities, the City of Moreno Valley, incorporated in 1984, has emerged as one of the fastest growing cities in the US. Located on 50 square miles in the western part of the county, Moreno Valley is surrounded by Riverside, Perris, March Air Reserve Base, Lake Perris, and the Badlands at an elevation of 1,650 feet.  Moreno Valley lies under the approach path for several major airports.  From almost everywhere in the city, the most obvious geographic feature is Box Spring Mountain, which was enhanced with a large lighted "M" to unite and showcase the city.

The History

The initial inhabitants of Moreno Valley were Native Americans, a renegade sect of the Shoshones. These early settlers dotted the area wherever springs or rivers provided water. The first explorers from Spain came north from Mexico, and established various routes to northern California. They set out well-defined trails, and constructed numerous missions, many of which stand today for the enjoyment of tourists and history aficionados. The Anza Trail passes northwest from San Jacinto through the former community of Edgemont, terminating at Alta, California. 

In 1883, Frank E. Brown formed the Bear Valley Land and Water Company. Brown (Moreno in Spanish) built a dam at Bear Valley in the San Bernardino Mountains, and contracted to provide water to the tiny new communities of Moreno and Alessandro. When the city of Redlands won priority rights to the water in 1899, a period of drought forced the failure of numerous farmers, who had developed a strong agricultural base of deciduous and citrus fruit trees. As a result of the loss of water delivery, the residents of Moreno Valley were forced to leave the area. By 1901, few people resided in the Moreno Valley; those who remained turned primarily to the dry farming of hay, grain, and grapes.

In 1918, a new element was built into the valley's history: March Field. The military airfield was originally built on 640 acres of land purchased primarily from the Hendrick Ranch. Initially used to train fighter pilots, March Field was closed in 1922, only to reopen again in 1927 as a flight training school. Later, March became a permanent military facility encompassing more than 7,000 acres. For more than 70 years, March Air Force Base enjoyed a long and active military history in the valley; at the height of its activity, the Base supported 85,000 troops. Today, March Field has been designated as an Air Reserve base and much of the land has been made available for civilian redevelopment.

The Economy

During the 20^th century, attractive land prices lured developers and below-market home prices attracted families from the cities. In the 1980s, the valley began to experience explosive growth during a transition to urbanization. By 1990, Moreno Valley had exploded in population growth to become the second largest city in Riverside County, with a population of over 118,000. Growth continued until about 1992, when the robust Moreno Valley economy deteriorated, largely due to the statewide economic downturn. Things began to turn around at the end of the 90s, when the prohibitive cost of living in Los Angeles and Orange County combined to make the less-developed southern half of the Inland Empire attractive to industry.

Today, Moreno Valley is once again experiencing rapid economic growth. The growth in population and business development has led to six hotel projects in the area. The area's major employers include Moreno Valley Unified School District, Riverside County Regional Medical Center, and Moreno Valley Mall/General Growth Properties. Companies such as Aurora Modular, U-Haul, and Lowe's moved major operating facilities to the city; until parcel carrier DHL fell on hard times, they were developing a major facility on March land.  Much of the new retail coming into the area is upscale.

With more than 23 million square feet of planned development and newly completed buildings, the city looks forward to the creation of more than 20,000 jobs in the near future. Moreno Valley is home to more than 32 parks and/or joint-use facilities (358.34 developed acres), and 6,000 acres of open space at Lake Perris; recreational, major medical, and educational facilities; quality housing at affordable prices, open spaces, abundant retail centers, industrial developments and social/cultural activities. Together, these amenities and the surge in job creation combine to make Moreno Valley extremely attractive to potential residents.

As of January 2010, Moreno Valley's population was 186,301. The city enjoys a diverse population, projected to reach nearly 228,427 by 2013. Fifty-one percent of Moreno Valley's population is Hispanic; 23% are white, 16% are black, and 5% are Asian. Most families own their homes, and the average family is composed of two parents and two children. The average household income last year was $70,255. In 2009, the area's major employers included March Air Reserve Base, the Moreno Valley Unified School District, and the Riverside Community Regional Medical Center. The median resident age in 2009 was 27 years.

In 2010, the average existing home value in Moreno Valley was $143,673; the average new home value was $255,000. As of January, 2011, the average home for sale was listed for was $208,735.  Over 81% of the homes are in foreclosure or bank-owned, while 59% are in short sale. The majority of homes for sale are single family homes, with a few condos, townhouses, and multifamily structures as well.

Hugo Balorezo is your Moreno Valley Realtor® of choice, whether you interested in buying, or selling, a home in our community. Although the overall economy is slowly rebounding, Hugo specializes in handling short sale transactions. If you need assistance, Hugo can help you avoid foreclosure by smoothly maneuvering through the waters of the California short-sale process.