LIVING IN GARDEN GROVE
Garden Grove is a relatively large city located in the state of California. With a population of 172,646 people and 33 constituent neighborhoods, Garden Grove is the 25th largest community in California.
Housing costs in Garden Grove 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, Garden Grove is neither predominantly one nor the other. Instead, it has a mixed workforce of both white- and blue-collar jobs. Overall, Garden Grove is a city of sales and office workers, service providers, and professionals. There are especially a lot of people living in Garden Grove who work in office and administrative support (12.72%), sales jobs (9.93%), and food service (6.94%).
Also of interest is that Garden Grove has more people living here who work in computers and math than 95% of the places in the US.
The citizens of Garden Grove are slightly better educated than the national average of 21.84% for all cities and towns, with 21.05% of adults in Garden Grove having a bachelor's degree or advanced degree.
The per capita income in Garden Grove in 2010 was $24,520, which is lower middle income relative to California, and middle income relative to the rest of the US. This equates to an annual income of $98,080 for a family of four. However, Garden Grove contains both very wealthy and poor people as well.
Garden Grove is an extremely ethnically-diverse city. The people who call Garden Grove home describe themselves as belonging to a variety of racial and ethnic groups. The greatest number of Garden Grove residents report their race to be Asian, followed by White. Garden Grove also has a sizeable Hispanic population (people of Hispanic origin can be of any race). People of Hispanic or Latino origin account for 37.03% of the city’s residents. Important ancestries of people in Garden Grove include German, Irish, English, Italian, and French.
Foreign born people are also an important part of Garden Grove's cultural character, accounting for 44.68% of the city’s population.
The most common language spoken in Garden Grove is English. Other important languages spoken here include Vietnamese and Spanish.
GARDEN GROVE HOUSING MARKET INFORMATION
With 172,646 people, 48,031 houses or apartments, and a median cost of homes of $629,837, real estate costs in Garden Grove 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 Garden Grove, accounting for 56.00% of the city's housing units. Other types of housing that are prevalent in Garden Grove include large apartment complexes or high rise apartments ( 23.85%), row houses and other attached homes ( 9.16%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 7.59%).
The most prevalent building size and type in Garden Grove are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 52.66% owning and 47.34% 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. Garden Grove's housing was primarily built during this period, from the '40s through the '60s. A full 60.83% of the city's housing hails from this era. Other housing ages represented in Garden Grove include homes built between 1970-1999 ( 31.18%) and housing constructed between 2000 and later ( 6.23%). There's also some housing in Garden Grove built before 1939 ( 1.76%).
GARDEN GROVE HOME APPRECIATION RATES
In the last 10 years, Garden Grove has experienced some of the highest home appreciation rates of any community in the nation. Garden Grove real estate appreciated 71.12% over the last ten years, which is an average annual home appreciation rate of 5.52%, putting Garden Grove in the top 10% nationally for real estate appreciation. If you are a home buyer or real estate investor, Garden Grove definitely has a track record of being one of the best long term real estate investments in America through the last ten years.
NeighborhoodScout's data show that during the latest twelve months, Garden Grove's appreciation rate, at 4.19%, has been at or slightly above the national average. In the latest quarter, Garden Grove's appreciation rate has been 1.28%, which annualizes to a rate of 5.23%.
Relative to California, our data show that Garden Grove's latest annual appreciation rate is higher 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 Garden Grove differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Garden Grove - 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 Garden Grove real estate investment or home purchase decisions.
Reasons To Invest
- Increasing Rental Demand
- Increasing Appreciation Rates
- Population Growth
- Growing Job Market
- Ethnically-Diverse City
Looking for investment properties?
The key to successful real estate investing is finding the right location. Sign up to view the top available investment properties.
- See detailed financial and neighborhood analysis
- Leverage the experience of industry experts
- Invest remotely with comprehensive, hands-free services
SO CAL MULTIFAMILY OWNERS RESOURCE
Southern California Multifamily Owners Resource is designed to help Southern California multifamily property owners manage, buy, sell and exchange their multifamily properties and enjoy stronger cash flow and a higher return on their investments. Learn more at www.socalmor.com.