MENIFEE AREA HOUSING PRICES AND HOME VALUE TRENDS AND PREDICTIONS
Monica Hill Menifee is located just 15 miles north of Temecula- California’s most popular wine production region. It is one of California’s hottest new suburban, springing out of the LA region. The city enjoys a beautiful Mediterranean climate all year. It provides the locals with convenient access to the Lake Elsinore, Diamond Valley Lake, and some significant wilderness areas and reserves in the Southern Los Angeles region.
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ike many other regions in the beautiful State of California, Menifee was founded as an agricultural region and was fused on the agricultural industry. However, today, Menifee is growing differently with various residential expansion projects attracting a large number of people. In the last five years, there has been a large number of people migrating from Los Angeles and the Bay Area into the Inland Empire to live in the Menifee city.
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As a tourist, homebuyer, or investor, there are so many reasons to pull you towards this ecstatic city, including but not limited to a vibrant mix of historical and cultural sightings and a host of other modernday tourist sites. However, today we’ll focus on the Menifee real estate market MENIFEE HOUSING MARKET Menifee is a mid-sized city. According to the 2018 Census Bureau Report, Menifee had a population of 92, 595 people and 18 constituent neighborhoods. Menifee is ranked as the 98th largest community in the state of California, and over the years, the city has seen unprecedented growth in the number of newer housing units. What triggers new developments, especially housing developments, is the result of new residents migrating into the area. In the last five years, middle class or even wealthier people have been migrating into the city from the Bay Area, attracted by the rapid job growth, a healthier economy, and superb local amenities. Between the years 2016 and 2018, the median household income for Menifee City grew from $57,598 to $65,757. Regardless, the housing costs in the city of Menifee are among the
THE POWER IS NOW MAGAZINE | JULY 2020
