Are you thinking about buying a home in Los Angeles? These regions are increasing steam in the real estate world.
According to an analysis of the nonprofit Newsroom Crosstown, West Dams has experienced the biggest property value growth in Los Angeles over eight years, but that’s not near.
The historic central area is located just south of the 10 Expressway, 110 west, with an asset value rising 107% between 2016 and 2024, Crosstown found.
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“The West Adams area has become a very popular thing over the last three or four years,” probate expert Demetrius Green told Crosstown.
The next biggest asset value growth rate was:
Nearby props. Increase in value Elysian Valley 86% Lake Los Angeles 84.5% Century City 84.4% Expo Park 84.4% Chuo 81.4% Baldwin Hills-Crenshaw 81.4% Hidden Hills 79.2% Harvard Heights 78.8% Leimart Park 78.8% Data: Crosstown
The rate of rise is great for homeowners today, Crosstown points out, but it’s bad for renters. Landlords use rising housing values as a reason to raise rents, and the housing crisis is only rising, experts say.
“We’re at a time when market-rate housing can use far lower-income, multi-family homes,” Jimmy “JT” Recinos of The Jimbo Times,” told Crosstown. “I’ve seen how my family just left the neighborhood together.”
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