Few places can boast the unadulterated beauty and seaside charm of Newport Beach, California. The sumptuous golden sands, sparkling clean ocean water and unrelenting sunshine all combine to make the Newport Beach real estate market one of the most prosperous in the wonderful state of California. It is fair to say that this seaside city is awash with people who love the ocean and enjoy all the recreational options that the beach offers.
With a residential population of around 85,000 and rising, it is clear that the Newport Beach real estate market is enjoying many prosperous years. There are many properties available and though the style and size of the homes vary, the quality of the properties on the Newport Beach real estate market is never compromised. The people who make up this beachside community are rightly proud of the safe, secure family atmosphere that they maintain and that is of course one of the main selling points in the world of Newport Beach real estate.
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Some of the big names in entertainment make Newport Beach, California their home. See what has all the big stars heading to Newport Beach.
Newport Beach is a small Pacific Coast city nestled between the Balboa peninsula and Balboa Island. About forty miles to the southeast is Hollywood that has big names in entertainment coming for the sunny climate. Located in Orange County, Newport Beach borders Huntington Beach, Costa Mesa and Irvine. A short drive away from Anaheim, the city is within 50 miles of Los Angeles. With an estimated 82,400 citizens, the population has grown 17% since the 2000 U.S. Census. The median age of residents at 41.7 years, about five years older than the U.S. average. Children under five make up just 4.6% of the city’s population; 16.8% of the people are 65 and older. Well above the percentage for California is the White Non-Hispanic citizenry that makes up 88% of the population. The percentage of African-Americans living in Newport Beach is less than a half percent. Hispanic residents made up 4.7% of the populous.
Newport Beach is in the top 1% of the country for well-paid single men and women and for its family and household income. The average household in 2005 pulled in $97,428 of annual income, while families were earning $127,698 per year. The national average for family income was $55,832, according to the U.S. Census Bureau. Newport Beach easily out earned the nearby communities of Irvine ($85,624) and Laguna Beach ($100,778). At 3%, unemployment was well below the state average, while job growth rose by over 10% from 2000 to 2005. Two communities in Newport Beach are home to some of the wealthiest people in California. Newport Coast and San Joaquin Hills were annexed by the city since 2001. Newport Coast is a master-planned community developed by the Irvine Company and home to many of the wealthy and famous. Heading to Newport Beach for real estate will require a very big wallet. Some of the priciest homes in the country continue to soar in value. The average city home value increased from $708,000 in 2000 to $1.36 million in 2005.
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Newport Beach, California has always owed much of its success to its proximity to the ocean. It is located in Orange County and has become part of a metro are that is also composed of Santa Ana, which is located about 10 miles north. Originally inhabited by Shoshone Indians who lived in part on the bounty of the sea as well as the fertile farmland, by the mid-1700s, the Spanish were beginning to explore further into what would become California. The areas of Santa Ana, Tunstin and Orange, which would later make up Newport Beach, evolved into farming communities with many new arrivals by covered wagon in the 1800s. In the late 1800s, the rather isolated settlement’s population and trade exploded when a wharf was built that spanned the area from the shallow bay of the peninsula to the deeper waters where the larger steamships could dock. Within a few years of the wharf being built, the area of Newport Beach was a thriving shipping town.
With all of the new shipping activities, more investors became interested in the area. By 1905, the Pacific Electric Railroad had connected Newport Beach to Los Angeles. With the advent of the trains, many families began arriving in Newport Beach to camp and enjoy the area. As a result, soon small hotels and cottages were built to keep up with the need for visitor facilities. In 1906, the scattered areas of West Newport, Balboa Island, Lido Isle and the peninsula were incorporated into the city of Newport Beach. Soon parts of Newport Heights and Corona del Mar were annexed and the city increased its boundaries again.
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