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The San Gabriel Valley is a region located in Southern California in Los Angeles County. It got its name from the Mission San Gabriel, and it contains friendly people and good schools. The area is home to a large number of Asian immigrants. The upper San Gabriel Valley is near mountains, hills, and a river. The gorgeous area of California is a wonderful place to live. You can find numerous homes available for purchase in the Upper San Gabriel Valley. If you are planning to move to the region, you have numerous options available to you.

Demographics and Median Income of Upper San Gabriel Valley

The Upper San Gabriel Valley has a population of around 330,000. The median household income stands at $61,409. The area is 46.3% Hispanic, 26.7% white, and 22.4% Asian. Blacks make up 2.5% of the population. The unemployment rate stands at 6.2%.

Median Home Prices of Upper San Gabriel Valley

The median home value of the Upper San Gabriel Valley stands at $511,272. This is way above the national average. Home prices are rising as job growth is gaining strength.

Crime Statistics of Upper San Gabriel Valley

The Upper San Gabriel Valley is considered one of the safest areas of California. The region offers a neighborhood watch program, so the residents have a sense of security and safety. The crime rate is almost 40% lower than the national average.

Schools in Upper San Gabriel Valley

The average test scores in Upper San Gabriel Valley are at 62%. This is higher than the state’s average, but just a little lower than the national average.

Mortgage Loan Options of Upper San Gabriel Valley

When choosing a mortgage loan, you need to decide what type of loan is right for you. Some of the options include:

  1. Fixed or Adjustable-rate: A fixed rate is the most common type of loan. You probably want a fixed-rate is you plan to stay in your home a long time. With this loan, the rate will not change throughout the life of the loan. This makes it easier to budget because you will know exactly what your principal payment amount will be each month. Many people choose a 30-year loan because the monthly payment amount will be lower. However, you can shorten the term by choosing a 20, 15, or 10-year term. If you choose a shorter term, you will save more money throughout the life of the loan. If you are planning to stay in your home temporarily, you might choose an adjustable-rate mortgage. You might also choose this option if you get a high interest rate. With an adjustable-rate mortgage, your rate will fluctuate after an initial period, which is usually a few years. After the period is up, your rate could go up or down.
  2. Government-Insured loans: Government-backed loans include FHA loans, VA loans, or USDA loans. An FHA loan is insured by the Federal Housing Administration and is an excellent choice for people buying a home for the first time. You need a small down-payment amount, and you do not need excellent credit to qualify. A VA loan is insured by the Veterans Affairs and is for people who have served in the United States military. The VA offers 100% of the financing, so no down-payment is needed.
  3. Conventional loan: This is a loan that the Federal Government does not insure. The down-payment amount is higher, and you need good credit. However, these loans will probably be less expensive.

The Upper San Gabriel Valley is said to have a strong sense of community. It is considered one of the best places to live in the country. If you are planning to move to the area, research your options to see which loan and area of the Upper San Gabriel Valley is perfect for you.