LIVING IN BUENA PARK
Buena Park is a larger medium-sized city located in the state of California. With a population of 82,421 people and 14 constituent neighborhoods, Buena Park is the 93rd largest community in California.
Housing costs in Buena Park are among some of the highest in the nation, although real estate prices here don't compare to real estate prices in the most expensive communities in California.
Unlike some cities where white-collar or blue-collar occupations dominate the local economy, Buena Park is neither predominantly one nor the other. Instead, it has a mixed workforce of both white- and blue-collar jobs. Overall, Buena Park is a city of sales and office workers, professionals, and service providers. There are especially a lot of people living in Buena Park who work in office and administrative support (13.30%), sales jobs (13.08%), and management occupations (8.69%).
In Buena Park, however, the average commute to work is quite long. On average, people spend 31.52 minutes each day getting to work, which is significantly higher than the national average.
The overall education level of Buena Park citizens is substantially higher than the typical US community, as 29.92% of adults in Buena Park have at least a bachelor's degree, and the average American community has 21.84%.
The per capita income in Buena Park in 2010 was $28,224, which is middle income relative to California and the nation. This equates to an annual income of $112,896 for a family of four. However, Buena Park contains both very wealthy and poor people as well.
BUENA PARK HOUSING MARKET INFORMATION
With 82,421 people, 23,443 houses or apartments, and a median cost of homes of $612,964, real estate costs in Buena Park are among some of the highest in the nation, although house prices here don't compare to real estate prices in the most expensive California communities.
Single-family detached homes are the single most common housing type in Buena Park, accounting for 59.38% of the city's housing units. Other types of housing that are prevalent in Buena Park include large apartment complexes or high rise apartments ( 26.14%), row houses and other attached homes ( 7.99%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 5.45%).
The most prevalent building size and type in Buena Park are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 55.86% owning and 44.14% renting.
At the end of World War II, American soldiers returned home triumphant and, with the help of the GI Bill, built homes by the millions on the edges of America's cities. These homes were predominantly capes and ranches, modest in size, but built to house a growing middle-class as the 20th century became the American century. Buena Park's housing was primarily built during this period, from the '40s through the '60s. A full 57.60% of the city's housing hails from this era. Other housing ages represented in Buena Park include homes built between 1970-1999 ( 34.23%) and housing constructed between 2000 and later ( 7.01%). There's also some housing in Buena Park built before 1939 ( 1.16%).
BUENA PARK HOME APPRECIATION RATES
In the last 10 years, Buena Park has experienced some of the highest home appreciation rates of any community in the nation. Buena Park real estate appreciated 65.09% over the last ten years, which is an average annual home appreciation rate of 5.14%, putting Buena Park in the top 10% nationally for real estate appreciation. If you are a home buyer or real estate investor, Buena Park definitely has a track record of being one of the best long term real estate investments in America through the last ten years.
Over the last year, Buena Park appreciation rates have trailed the rest of the nation. In the last twelve months, Buena Park's appreciation rate has been 3.67%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Buena Park were at 1.28%, which equates to an annual appreciation rate of 5.23%.
Relative to California, our data show that Buena Park's latest annual appreciation rate is lower than 50% of the other cities and towns in California.
One very important thing to keep in mind is that these are average appreciation rates for the city. Individual neighborhoods within Buena Park differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Buena Park - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 2000, to assist you in making the best Buena Park real estate investment or home purchase decisions.
Reasons To Invest
- Popular Tourist Destination
- Growing Job Market
- Population Growth
- Strong Local Economy
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