Big cities are growing, but so are the suburbs, where the region’s population is flocking for a slim supply of available housing, according to an annual state report released Monday.
The Golden State’s population expanded to 39.3 million residents, an increase of just less than 1 percent with Los Angeles, Orange, San Diego and Riverside counties seeing growth from January 2015 to January of this year.
Despite the lure of the big city, places far from urban downtown areas have been seeing notable boosts in population, such as Lake Forest in Orange County, which grew 3.7 percent. Eastvale, a community in western Riverside County, saw its numbers rise by 3.8 percent. Santa Fe Springs, Azusa and Santa Clarita also saw growth.
More baby boomers are downsizing and finding homes closer to rapid transit lines, shopping and restaurant hubs, agreed Jim Link, CEO of the Van Nuys-based Southland Regional Association of Realtors.
“I do think there is still a strong movement toward the downtown lofts and condos,” Link said. “But I think you’ll find in Santa Clarita, for example, that with recent new construction near their central core, where the larger employers are, is where people move.”
For the first time, the city of Los Angeles reached 4 million people and led the state with 12,224 new multi-family units.
In fact, most of the 482 cities across California saw their populations grow in 2015, including Beaumont, Long Beach and Irvine, even though the housing market remained flat across board, the report noted.
View Article