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Real Estate Canyon Lake - The Condition of the Real Estate Market in Canyon Lake, California

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Located in Riverside County, the city of Canyon Lake is one of only five gated cities in the state of California. Canyon Lake is small in that its total area is about 4.7 square miles, and the population of the city is just over 11,000. However, Canyon Lake offers prospective residents a safe, upscale community that is a half-hour drive from the city of Riverside. Though its small in terms of total size, the population density of approximately 2800 people per square mile shows that this is a cozy little community with room for new real estate investors.

The residents of Canyon Lake are typically people in their mid-30s to upper 50s that are raising a family in a small, quaint part of southern California. The home sales for Canyon Lake rose sharply in 2009, as the housing market crash brought prices in the Canyon Lake market very low. In 2005, Canyon Lake homes were selling for approximately $450,000, and the number of homes being sold was relatively low. In 2009, sales of homes was drastically increasing while the selling price of these homes fell to $175,000. As for renters of apartments or condominiums, they can expect to pay a little over $1,800/month for their rental property.

The majority of homes in Canyon Lake were built between 1970 and 1990, in which there was a large population shift to southern California. These houses usually average three bedrooms and two bathrooms while rental units usually contain three bedrooms and one-and-a-half bathrooms, so the average rental property is more lavish than most other apartments and condominiums in the United States.

The estimated home value of the residences in Canyon Lake are mostly valued between $400,000 and $750,000. Most of the rent prices in Canyon Lake run somewhere in the $1,500 to $2,000 range. As Canyon Lake is generally considered a simple suburb of larger bordering towns, many people have long commutes to work of over 60 minutes, which can be considerably longer when factoring in typical southern California traffic.

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