Eastvale CA Rental Market Report as of May 14th, 2016
I have been following Eastvale Ca market for quite a while. The trend is very positive for the rental market. Inventory is so low that some properties are being snatched up within the first week. As of today, there are only 22 houses for lease on the CRMLS. 20 of these listings are for single family homes averaging $2700/month for a 3100sqft house. There are 2 townhomes for lease, averaging $2200/month rent.
To give you an idea how hot the rental market is in Eastvale. Check out the following stats.
For the first week of May 2016, 23 houses were leased with average days on the market of 24 days. For the second week of May 2016, a total of 3 houses were leased with average days on the market of 16 days.
The trend we are seeing is cash buyers buying homes and converting them to rentals. With limited inventory and increase demand, investors can lease their investments quickly and at a much higher rent that a few months ago.
Why is Eastvale CA growing in popularity?
Eastvale is a commuter's dream. Centrally located between the 4 major counties of Los Angeles, Riverside, Orange and San Bernardino. Buyers truly get the most bang for their buck in Eastvale CA. The community has grown from a dairy land in the year 2000 to over 60,000 in population as of 2016. Families who relocate here are searching for that luxurious house that provides the space, comfort and a place where their family can grow and thrive. Corona/Norco school is a well known acclaimed district recognized nationally for many outstanding achievements. Eastvale CA is a commuter town which prides itself on education, safety, pride and prosperity.
Click here to see all the current available houses for lease in Eastvale CA.
Eastvale Team Realty is also a property management company, contact Sarah Oswald at 951-878-9180. She will show you the benefits of utilizing the services of a property management to give you the greatest return on your investment.
Eastvale CA Rental Market Report as of May 14th, 2016
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