As the busiest port in the San Francisco Bay area, Oakland, California boasts an amazingly diverse real estate market. It doesn’t matter what you are looking for in a home because you will find exactly what you want in this expansive city. There are a wealth of options ranging from residential properties, condos, multi-family homes and buildable lots. The vast majority of properties will be up for resale, but there are a handful of brand new homes available. Also, if you are savvy in an auction setting, you could purchase a foreclosure for a steal.
As one of the top fifty largest cities in the United States, Oakland is full of culture and opportunity. The city is the fifth busiest port by volume in the nation. In fact, it handles 99% of containerized goods that pass through Northern California. The marine cargo transport industry provides the area with around 200,000 employment opportunities. Positions range from low level minimum wage positions to Transport, Storage and Distribution managers who make upwards of $91,000 a year. In the last decade, the city experienced significant population growth and land values also increased. The cities top employer is the unified school district, which yields over 7,500 local positions. Alameda County ranks as the second top employer with just under 6,500 jobs.
In addition to industrial success, Oakland has a thriving tourism industry that injected $1.3 billion into the United State economy in 2013. Recently, hotel demand is on the rise with a 74% occupancy rate and revenue per available room increased by 14%. This is the highest increase seen in big cities located in the country’s western region. Along with San Francisco, Oakland is expected to have the highest average daily rate increases in the United States. Part of this is due to the significant art scene in the area. The city has the nation’s highest artist concentration per capita. In 2013, the city received the distinction of being in the top twelve art communities in the United States with places of note including Downtown/Uptown, Old Oakland, Chinatown and Jack London Square. There are many galleries of various styles throughout the city and the local cuisine is as diverse as the art. Most local restaurants use local produce in conjunction with international foods to reflect Oakland’s diverse citizens. Plus, the town is a hub for West Coast blues and jazz along with many other popular musical genres. Many artists and industry professionals enjoy calling Oakland home. With so much going on, it’s the perfect place for anyone who loves choice and variety.