Simi Valley, California, is a middle to upper middle class residential community that also possesses a vibrant business community. The age of homes here ranges from tract homes built in the mid-twentieth century to new homes constructed within the last few years. Older homes enjoy larger lots and generous yards while newer homes may be larger in terms of square feet. Simi Valley, the city, is located in the valley of the same name. It is the final resting place of former President of the United States Ronald Reagan. His grave is at the Ronald Reagan Presidential Library.
Simi Valley, CA is a great place for affordable rent-to-own homes! With a median household income of over $99,245 and a median rent of $2,137, the Simi Valley, CA rent-to-own market is more affordable than the traditional housing market which has shown tremendous growth across the U.S. and with it, aggressive competition for home purchases. With the current housing shortage trend it can make it harder to become a homeowner, including in Simi Valley, CA. This means higher than average down payments for homes and higher qualification standards for conventional home loans. With a rent-to-own property, tenants are also buyers. You can live in the house for a set amount of time before you purchase it, meaning that you get to know the house, your neighbors, and your community before making the final purchase. This enables you and your family to make the right choice based on both information and experience. Rent-to-own is also a great alternative way to get into a home if you have bad credit or don't have enough saved for a down payment.
Simi Valley, CA is seeing rapid growth and Simi Valley, CA's' housing market remains not optimal with an average home price that is 182% above the 2022 national average. Simi Valley, CA is part of Ventura county and taxes are an important factor to consider when purchasing a home whether through rent to own or a traditional purchase. The average tax rate as of 2022 for county Ventura is 0.59% which is below the national average, which is 0.99%.
Simi Valley, CA has a walk score of
Simi Valley, CA has a bike score of
The state tax rate is 1.0 to 12.3% on top of the federal tax rate of 10 to 37%.