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6 months ago
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A California town known for its stunning scenery and easy transport links is one of the last affordable places to buy in the Bay Area.
While average house prices in the San Francisco have soared past the $1 million mark, Bay Point offers the chance to pick up a property for a fraction of that price.
The town of 24,000 people is located in Contra Costa County, just over an hour from the Golden Gate city by BART train.
And while data from Zillow indicates house prices have leapt by almost 27 percent since 2020, Bay Point still remains comparatively affordable.
'Since I moved here, I have no desire to live in the Peninsula,' new resident and first time buyer Florence Arkin told the San Francisco Chronicle.
Bay Point is fast becoming one of the last affordable places to buy in the Bay Area, with its pretty shoreline pictured here
The town boasts verdant hills such as this to the east, and biodiverse marshlands in the north
The town of 24,000 people is located in Contra Costa County, just over an hour from the Golden Gate city by BART train
She snapped up a 2,200 square foot property before it had even hit the market.
'I just felt like if I didn't get in at the point that I got in, it would be impossible (later),' the single mom-of-two added.
Like many, Arkin had been squeezed out from more central areas amid skyrocketing house price inflation.
Currently a typical Bay Point home sells for $541,000, less than half the $1.2 million homes in the San Francisco metro area are commanding.
But there are even greater bargains to be had. One Zillow listing for a two bed, two bathroom property with a spacious porch is listed for just $229,000.
Meanwhile, a 'meticulously maintained' three bedroom, two bathroom home is currently on the market for below average, at just under $500,000.
The surge in house prices in Bay Point is a reflection of increased demand, which has remained high since the pandemic.
Remote workers no longer needing to access the office found they could get more space for their money by heading out to the tranquil town.
This two bedroom, two bathroom home is on the market in Bay Point for $220,000
At less than $500,000 this three bedroom property is less than half the cost of the average home in the San Francisco metro area
While comparatively affordable, the price of a typical home has shot up by 27% in the last four years according to Zillow
While value for money is what is drawing many homeowners, Bay Point has a wealth of other attractions.
The town boasts the stunning scenery, including verdant hills to the east and biodiverse marshlands to the north.
In easy reach is the Bay Point Regional Shoreline, which offers fishing, birdwatching and sweeping views over Suisun Bay.
The BART station also ensures that residents are well connected, although commuters working in Oakland or San Francisco could face round trips of up to three hours.
While the town counts a Walgreens and some supermarkets among its stores, most people head to shopping centers in nearby Concord and Pittsburg, just a fifteen minute drive away.
However, the increased demand for property in Bay Point has some residents concerned about gentrification.
Bay Point's only high school closed in 1976 and many people living in the area struggle to get jobs in the town, having to commute elsewhere in the county for work.
Lifelong local Eduardo Torres told the San Francisco Chronicle the area has 'potential' with the right investment.
The BART station is a major draw for new residents, along with shopping centers in neighboring cities
'What does (people moving here) mean in terms of the long-term effects of this community?' Torres said. 'Is that going to push us out? … We're kind of stuck here waiting to see what happens.'
Almost half of Bay Point residents are renters, with many fearing they might be squeezed out by landlords looking to cash in on inflated resale prices or turfed out for higher-paying tenants from the city.
But a lack of new homes in the Bay Area means prospective buyers may have no choice but to keep looking further and further out, according to Daryl Fairweather, senior economist at Redfin.
Housing in California became so expensive last year that San Francisco residents were willing to spend $900 on a 4ft pod to live in.
The housing crisis drove a mass migration out of the state - with 500,000 more people leaving in a two-year-period than arriving.
Brownstone Shared Housing came up with a creative 'solution' to overpriced housing with their communal living pods.
Each pod is 3.5ft wide and 4ft tall - barely big enough to fit a twin mattress and not nearly tall enough to stand up in.
The idea of tiny pod houses came from the Japanese 'coffin house' which was Tokyo's solution to housing the jobless during the country's recession in 2009.
English (US)