Is the Inland Empire Real Estate Market Getting Crowded?

Have you noticed recently how quickly the Inland Empire population is growing? You might’ve noticed it if you’ve ever sat in traffic on the 10 or 210 freeways. Though it can be an inconvenience, the increased traffic to the IE is a great sign for our local economy and for those who are looking to run their businesses or purchase investment properties. The US Census Bureau stats indicate that the Inland Empire area which centers around San Bernardino and Riverside added 47,601 people at the end of 2021, which is even more amazing when you consider that other regions like LA and Orange County lost around 175,913 residents combined during the same time.

While everywhere else seems to be struggling to get back to pre pandemic numbers, the Inland Empire saw an increase in jobs totaling over 16,300 more than before the pandemic started in 2019. How does this affect real estate investors? The skyrocketing demand is already increasing rents to levels that will reinforce further development and investment in major cities in the Inland Empire such as San Bernardino, Fontana, Riverside, Ontario and others. That investment will overflow into the surrounding bedroom communities as well such as Redlands or Yucaipa.

Part of this increase in people moving to the IE can be attributed to our cost of living being 8 percent below LA and Orange County. In the past, people have considered living in the Inland Empire while still commuting to their jobs in another city, though that dream has become less and less viable as commutes become longer. Well now, that’s a concern for the past! Since the pandemic pushed many employers to allow remote work, everyone can now benefit from the low cost of living and booming economy.

At Realicore Real Estate, we have certainly seen an increase in inquiries from people who are dying to snag a residential or commercial property in this area while they still can. We’ve also seen many business owners, and developers lock in their commercial properties so they can take advantage of the continued growth the Inland Empire is experiencing. The UC Riverside School of Business even stated that “The Inland Empire officially transitioned from recovery to expansion to close out 2021. Growth has been impressive across a variety of indicators that are now trending above where they stood prior to the pandemic.” If you needed any more proof that the Inland Empire area is the place to be, this is it.