General Plan - Moreno Valley

CHAPTER 8 – HOUSINGMORENO VALLEY GENERAL PLANCHART 8-4RIVERSIDE COUNTY - MORENO VALLEY UNEMPLOYMENT1990-20001412108642019901991 1992 1993 1994 1995 1996 1997 1998 1999 2000Riverside CountyMoreno ValleySource: California Employment Development Department8.3 EXISTING HOUSING NEED8.3.1 Housing AffordabilityIn the 1980s Moreno Valley was abeneficiary of the residential real estateboom. Families could buy a home inMoreno Valley at a much lower cost thanhomes in other parts of SouthernCalifornia. In the first quarter of 1988,residents of Los Angeles could save asmuch as $79,600 when buying a home inMoreno Valley, while San Diego countyresidents could save as much as $95,600.Ventura County residents could save up to$110,600 and Orange County residentscould save $144,400 (Chart 8-5).CHART 8-5Home Price Savings Moreno Valley & Southern California Markets Median Price New & ExistingHomes 2nd Quarter 1998$300,000$250,000$200,000$150,000$100,000$99,400$179,000$79,600$195,000$95,600$210,000$110,600$243,800$144,400$50,000$0Moreno ValleyLos AngelesSan Diego Ventura OrangeMedian All Home PriceMoreno Valley SavingsSource: John Husing, Economic Development Strategy, City of Moreno Valley, p 3.Page 8-9 July 11, 2006