Santa Ana is a community located in the southwest part of California. It currently has a population of around 325,000 people, which makes it one of the 60 largest cities in the country. However, it is a part of the much larger Greater Los Angeles Area, which has a population in excess of 18 million people. Santa Ana is well known for being a great community with wonderful weather, plenty of cultural and entertainment options for residents and visitors to choose from, and plenty of job opportunities. Because of these factors, many people choose to move to Santa Ana, which helps to ensure the housing market stays strong.
Mortgage Loans in Santa Ana
When coming to Santa Ana, many people will have to take out a mortgage. Santa Ana has a large percentage of people that take advantage of the federal VA and FHA loan programs, but there are also a lot of residents that take out jumbo loans due to the higher home prices.
Overall, mortgage rates in Santa Ana, and the rest of the Los Angeles area, are slightly higher than the national average. This is partly due to the higher rates associated with jumbo mortgages and some higher taxes. Those looking to take out a loan in Santa Ana will have a lot of lending options. The top lenders in the area include national lenders, such as Bank of America and US Bank.
Housing Affordability in Santa Ana
Overall, Santa Ana is considered a somewhat affluent community. The level of income can vary considerably from one area of the city to the next, but the median income as a whole is around $55,000. This is a bit above both the national and state averages. While the income levels are around average, the housing prices are significantly higher than the national averages. Santa Ana currently has a median home value of $425,000, but a large percentage of homes in the area are valued at over $1 million.
These high home prices are in line with the rest of southern California, which has seen dramatic increases in home values. While the median home price today is $425,000, it was just around $175,000 fifteen years ago. A part of the increase in value is due to foreign investors, commercial developments, and overall improved economics in the city.
Santa Ana Crime Statistics
Compared to other large cities in the United States, Santa Ana has very low crime statistics. Of the top 100 cities based on population, Santa Ana is one of the ten safest based on crime stats. Violent crimes in Santa Ana are particularly low compared to other cities in the country and region. Most crimes that are committed in Santa Ana are drug offenses or burglary and theft.
Education in Santa Ana, CA
The city of Santa Ana is served by the Santa Ana Unified School District, which is among the largest in California and Orange County. The district has a total of 65,000 students that attend around 50 different schools. Total funding in this district is low compared to other districts, with an average spend of just $4,600 per student. Due to the lower amount of funding, the student to teacher ratio is 23 to 1, which is much higher than ratios found at other districts in California and across the country.
Santa Ana also has a number of different private schools and charter schools for people to choose from. Some higher education options include a number of trade schools found in the city and Santa Ana College, which is a two-year community college.