Thinking about investing in real estate in Covina, CA? Before making a decision, check Covina CA real estate options to see whether they match your budget and lifestyle preferences. And this research doesn’t have to be overwhelming and demanding. We’ve gathered useful info about the real estate options here so you can gain insight into what Covina offers. And if you choose to invest in Covina’s housing options, whether buying or renting, we are here to help you navigate the relocation tasks. Rely on Good Neighbors Moving Company anytime. Now, let us explore the real estate market in Coivna together.
Meet Covina and its real estate market
Covina, California, located in the heart of the San Gabriel Valley in Los Angeles County, offers residents a mix of suburban appeal and urban convenience. It strikes a perfect balance between lively city life and the tranquility of a smaller town. With a population of 50,717, it presents an appealing option for various demographics, including families, young professionals, and retirees. The city’s real estate market is rich, with the median home value standing at $628,600, particularly higher than the national average of $281,900. Renters also find Covina attractive, with median rent at $1,777, above the national median of $1,268, reflecting the desirable location and quality of life in the area.
This dynamic appeals to both homeowners and renters, with 56% owning their homes and 44% renting. The city is recognized for its diversity, ranking 162nd among the most diverse suburbs in California. It also places well as a suburb for young professionals (204th) and for its public schools (259th), indicating a balanced environment conducive to both personal and professional growth.
Safety in Covina
Crime and safety in Covina receive a grade of C, which is a factor to consider for new residents. With a median household income of $89,650, above the national average, Covina’s residents enjoy a relatively comfortable standard of living.
Factors to consider when buying a home in Covina
Before buying a home, there are several factors to consider related to real estate options in Covina, CA. First and foremost, you should think about whether your income budget matches the real estate price and overall cost of living. Namely, according to Livingcost.org, in Covina, for a single person, the total cost of living, including rent, is estimated at $2,505 per month. This cost increases to $5,811 monthly for a family of four, indicating a significant jump that accounts for additional needs and space. Breaking down these costs further, living expenses without rent for one person are approximately $854, and for a family of four, it’s $2,922. These figures suggest that while the cost of daily living is substantial, the most significant expense for residents is housing.
While Covina offers a high quality of life and desirable amenities, purchasing a home here can be challenging for median-income earners. The real estate market in Covina is relatively expensive when compared to local incomes, suggesting that buying a house may stretch the financial capabilities of many residents. Potential buyers must carefully assess their financial situation, consider additional housing-related costs, and explore financing options to make an informed decision about buying homes in Covina. However, if you can afford to buy a house here, hire movers in Covina, CA, and relocate your home in no time.
Covina CA real estate options: Types of homes
In Covina, CA, the real estate market offers a variety of options for different budgets and preferences:
- Mobile Home: A cozy doublewide home in a community park is listed at $65,000 (2 beds, 1 bath).
- Manufactured Home: A home in the Starlite Estates Community, offering 3 beds and 2 baths, is priced at $109,999.
- Condo: A newly built condo in the Covina Bowl community featuring 5 bedrooms and 4 bathrooms is available for $768,000.
- Single-Family Home: For new constructions, you can find options like a property on Grand Ave with detailed pricing upon inquiry.
- Open house: You can expect to pay from $550K to $800K.
These listings show that Covina caters to a wide range of housing needs, from more affordable mobile and manufactured homes to new, spacious condos suitable for larger families. However, Covina CA real estate options change on a daily basis, so check out the prices with the real estate agencies before hiring moving companies Los Angeles County offers.
Best neighborhoods in Covina CA
A neighborhood you want to move to plays a key role in defining Covina, CA, real estate options.
- Charter Oak: Known for its top-rated schools and family-oriented community. This area boasts beautiful parks and recreational facilities.
- Covina Hills: Features upscale homes with stunning views. It offers a secluded and peaceful atmosphere, close to nature and hiking trails.
- Downtown Covina: Ideal for those seeking vibrant urban living. The area has walkable streets, historic charm, and great dining and entertainment options.
- South Hills: A prestigious golf course community with luxurious homes. The neighborhood is known for its strong sense of community and beautiful landscaping.
- Covina Highlands: Offers spacious lots and ranch-style homes. It has equestrian facilities and rural charm while being close to city amenities.
What about the prices? For example, in Charter Oak, as of March 2024, the monthly rent averages are as follows: studios at $2,702, one-bedroom units at $1,939, two-bedroom units at $2,328, and three-bedroom units at $2,580. This represents a 2.5% increase in rent over the past year. The price points in this neighborhood align with the family-oriented community, top-rated schools, and beautiful parks Charter Oak is known for.
Is Covina, CA, good for real estate investment?
Covina presents a strong case for real estate investment. With its balance of suburban charm and urban convenience, alongside a diverse and growing population, it appeals to families, young professionals, and retirees. The real estate market, though relatively expensive compared to local incomes, offers a variety of options, from affordable mobile homes to luxurious new constructions. Investing in Covina, CA, could offer long-term benefits, given its quality of life, community amenities, and the potential for property value appreciation.
Want to move to Covina CA? Hire Good Neighbors Moving Company
Now that you’re familiar with Covina CA real estate options, it is time to search for a suitable home. And after you find one, think about what company to hire to relocate you. You are in the right place at the right time. Good Neighbors Moving Company and our moving services Los Angeles and Covina residents trust, are here to make your relocation hassle-free. Contact us today and schedule your move.
References:
Covina, CA. (n.d.). Niche. https://www.niche.com/places-to-live/covina-los-angeles-ca/
Cost of Living & Prices in Covina, CA: rent, food, transport. (2020, July 27). Livingcost. https://livingcost.org/cost/united-states/ca/covina
Covina, CA Homes for Sale. (n.d.). Www.redfin.com. https://www.redfin.com/city/4367/CA/Covina
https://www.redfin.com/CA/Covina/706-N-Charter-Dr-91724/home/7923386
