Oxnard, California is bustling with growth and potential. Nestled within the southern coast of California, it is one of the state’s largest cities. With growth comes a housing market that welcomes more demographics. There are many neighborhoods in this charming town that have grabbed the attention of real estate experts for an assortment of reasons.
Home appreciation is the value a home accumulates over time. If a home appreciates by 50%, its value has increased by 50% of what was originally paid for it. This is important for homeowners because how much a home appreciates determines how great of a profit is made once it’s sold. And who doesn’t like profiting? This potential for profit is one big reason to move to Oxnard. The average annual rate of appreciation in Oxnard has been 4% since 2000. Home appreciation in the last year is at 5.19%, which is above the national average of 3.74%.
Another profusely valuable asset is the rich history of the area. Oxnard was named after two ambitious brothers that established the city in 1903. With this ambition, a prosperous sugar beet factory was founded that sparked a great deal of opportunity for immigrants. Japanese, Chinese and Mexican people were the main groups of immigrants that came to Oxnard for this reason. This factory resulted in an increase in both diverse populations and diverse agriculture. This agricultural boom is a major reason for the steady population increase since the 1940s. Even though agriculture remains central to Oxnard, technology, manufacturing and many other industries ensure that Oxnard is great to both live and work in.