Lake Forest is located in Orange County, California and was incorporated as a city in 1991. Prior to incorporation, it was known as El Toro. It expanded in 2000 to include Foothill Ranch and Portola Hills. The city gets its name from the two man-made lakes. They are lined with recreational parks and suburban homes, adding to property values and the city’s desirability. Because of its location in Orange County, there are also a lot of job opportunities which helps attract new residents, particularly young professionals and families. If you are a resident of the area, its a good idea to check your policy every six months to make sure you are getting all the options for cheap car insurance Lake Forest has to offer.
About Lake Forest
In the 1800s the area of Lake Forest was inhabited by a small group of pioneers who lived in the foothills. There was not much there until the construction of the I-5 Freeway through Saddleback Valley. In the late 1990s the city worked with property owners to re-develop the area into a large shopping center and houses surrounding the lakes.
Lake Forest has two man-made lakes, with large and small custom homes along the shores. Each neighborhood has club houses, tennis courts, gyms, and multiple swimming pools. The area around the lakes is largely filled with eucalyptus trees that were planted in the early 1900s by a local landowner.
Quick facts about Lake Forest:
The city’s crime rate is less than half the national average, and the city has not had any fatal car accidents since 2006. Most of the employed population drive their own cars to work, and have an average commute time of 30-40 minutes. The city is close to the very busy Interstate 5, and there is not a lot of choices for public transportation. Carpooling with other drivers is the best way to save mileage on your car, and money on your car insurance.
Housing Trends in Lake Forest
Lake Forest is a suburb of Irvine and it is one of the most beautiful places to live in California. Living in Lake Forest offers residents a dense suburban feel and most residents own their homes. There are a lot of restaurants, coffee shops and parks. Many people who are just starting their professional careers live in Lake Forest if their job is a reasonable distance. Renting your property can get a little expensive each month. The average rent for an apartment in Lake Forest is $2,127 and that is kind of on the higher side but it does pay to rent and live in an area that is beautiful and most of all safe. The average square feet of an apartment is around 893 which is on the larger side when looking at other cities in California. When it comes to paying rent each month, 63% of people pay more than $2,000 so the average price does make sense.
The housing market in Lake Forest is very competitive. With the average home price being around $760,000, people love to take advantage of this market because this is a relatively cheap price for homes in Orange County. This also a great place for people looking to get their first home. Homes have the potential to sell 1% above list price due to so many people interested in the property.