Menifee's Growth and Quickly Becoming Less Affordable to Buy (Los Angeles: real estate, crime)

[antredd]

With a population of 99,770 as of 2020, Menifee is currently growing at a rate of 2.59% annually and it's population has increased by 29% since 2010 from 77,519. It is projected to grow to 107,745 by 2025.

If you visit Menifee, you will see at least a half a dozen home developments getting built with more on the way. However, the city's infrastructure isn't keeping pace with the city's massive growth. There is literally one main road in Menifee that runs east to west, Newport Road.

When Menifee's major shopping center opened in 2006, I could drive the two mile distance to it in less than 7 minutes on Newport Road. Now it takes me at least 20-30 minutes to get to the same shopping center, especially during the early afternoon hours. To avoid Newport Road, I drive 4 miles south to McCall Blvd and then take the 215 south to Newport avoiding the gridlock on Newport road, I find myself frustrated to say the least.

Menifee will have two whole food stores after Sprouts opens soon. There are many more restaurants and stores coming to the city that we can't keep up.

When my family and I first moved to Menifee in 2004, the city was very small and not diverse. Today, I can say that Menifee is quickly becoming diverse.

As more people are moving to Menifee for the affordable housing, which to my surprise I am starting to see some of the new home developments like Centennial Homes selling now for 600K, Audie Murphy Ranch in the high 500s, and Heritage Lake new homes going for upper 400s. Will Menifee continue to be affordable?

[SouthCoastJon]

That entire Temecula/Murrieta/Menifee nexus is becoming one giant bottleneck. However, I am not surprised that the area is still growing given how expensive real estate has gotten in nearby San Diego County. I'm not a real estate expert by any means, but I just don't foresee housing costs decreasing anytime soon.

[waltchan]

Menifee will continue to grow, but the people moving in will become more higher-income, and a more gradual shift to more Asian residents moving in this time that came from Irvine area. The new, affordable city will now take place at Hemet, where McSweeney Farms and River Oaks communities are being constructed and sold right now.

[antredd]

I've seen that as well. McSweeney Farms it's a very nice master plan community. But you have to drive an additional 15 to 20 minutes east from Menifee or the 215 freeway.

[forzalugano]

Originally Posted by antredd

I've seen that as well. McSweeney Farms it's a very nice master plan community. But you have to drive an additional 15 to 20 minutes east from Menifee or the 215 freeway.

That's always been the problem with Hemet, is the lack of a freeway nearby. The once proposed a freeway 15 years ago and they canceled it with the housing bust. Even Beaumont and Banning are seeing growth and far out Hemet is still left behind. Only access points are the 215, or up a mountain to the 10 freeway, the backside is a mountain.

[waltchan]

Originally Posted by antredd

I've seen that as well. McSweeney Farms it's a very nice master plan community. But you have to drive an additional 15 to 20 minutes east from Menifee or the 215 freeway.

If you don't need to commute to Orange County or Los Angeles County to work (which most people are forced to live in Lake Elsinore, CA area), then the extra 15-20 minutes of driving is no big deal.

McSweeney Farms in Hemet is the new best-value deal after Beaumont/Banning, CA for the next 5-10 years of home construction. It will continue to be the more-expensive Hemet neighborhood. Personally for myself, I like downtown Hemet better than downtown Menifee (which is none yet), since it's an established with a growing downtown community (if you can get past of the higher crime rate, which is improving).

[blazenjames]

Beaumont and Banning are great buys right now. For $350k you can get something decent. Not so in most other areas.

[apple92680]

Originally Posted by blazenjames

Beaumont and Banning are great buys right now. For $350k you can get something decent. Not so in most other areas.

Problem with those towns is that they aren't close enough to major job centers. People who work in the job centers of Riverside and Ontario will live in Perris, Moreno Valley, Norco and Eastvale.

Banning/Beaumont can market themselves as "Coachella Valley adjacent" and get some retirees who may otherwise move to Palm Springs, but how many people will go for that and pay the Mello Roos taxes on those new builds?

You're essentially paying Temecula/Murrieta prices without the conveniences of a fully planned city and being near San Diego, Orange County.

[waltchan]

Originally Posted by apple92680

Problem with those towns is that they aren't close enough to major job centers. People who work in the job centers of Riverside and Ontario will live in Perris, Moreno Valley, Norco and Eastvale.

Hemet is definitely more welcoming for job commuters than Beaumont/Banning. I think Hemet home prices are lower too.

[NORTY FLATZ]

Temecula/Murrieta/Wildomar reminds me of San Fernando Valley. When the bubble bursts, I'm buying in this area...