The United States is the preferred destination for immigrants worldwide. The trend of Chinese immigration to the U.S. is intensifying. In the U.S., Chinese populations are largely concentrated in diverse cities such as Los Angeles, San Francisco, and New York. So, what are the housing prices like in these cities? Below is an overview of housing prices in the top ten U.S. cities with large Chinese populations:
1. Los Angeles
Located on the U.S. West Coast in the southwestern part of California, Los Angeles is the second-largest city in the U.S. after New York and home to the largest seaport in the country. Furthermore, Los Angeles possesses a highly developed industrial and financial sector and serves as a cultural and entertainment hub for the United States.
Area: 1,290.6 square kilometers
Population: 4.58 million
Median Home Price: $519,700
Unit Price: $4,015/sqm
Price Growth: 11.0% increase year-over-year from 2013
Rental Level: $2,409
Los Angeles has long been recognized as a city suitable for Chinese immigrants, offering a beautiful environment and a mild climate. The proportion of Chinese residents in the total population is relatively high, their social status is significant, they face fewer restrictions, and there are numerous Chinese communities. According to statistics, as of July 2014, housing prices had increased by 11% compared to the previous year, and they are expected to rise by another 5.9% over the coming year.
2. Irvine / Central Orange County
Irvine is located south of Los Angeles within Orange County and is one of the largest master-planned communities in the United States. Although it was established 30 years ago, Irvine remains a young, emerging city and is an ideal immigration destination that many aspire to.
Area: 180.5 square kilometers
Population: 220,000
Median Home Price: $761,100
Unit Price: $4,499/sqm
Price Growth: 4.1% increase year-over-year from 2013
Rental Level: $2,921
Irvine features excellent urban planning, a large Chinese population, and an Asian population accounting for nearly 30%. It is near the ocean and enjoys a pleasant climate with California's famous sunshine. As an emerging city, the prospects for investment and employment are vast. At the same time, the positive business environment, sound government management and services, excellent school districts, and ideal public safety are reasons why many people, especially Chinese, choose to live in Irvine.
3. San Francisco
San Francisco is a port city on the Pacific coast of California. It is the second-largest city in California after Los Angeles, the largest financial center in the Western U.S., and an important base for high-tech research, development, and manufacturing. Its economic level ranks second in California and ninth in the United States.
Area: 600 square kilometers
Population: 840,000
Median Home Price: $972,800
Unit Price: $8,482/sqm
Price Growth: 13.8% increase year-over-year from 2013
Rental Level: $3,699
San Francisco is the most densely populated area for Chinese in the Americas, with Chinese residents making up 20% of its 800,000+ population. San Francisco has beautiful scenery, a diverse culture, and a large Chinatown, which has allowed the Chinese community to play an increasingly important role in the region's political, economic, and social life. According to statistics, as of July 2014, housing prices in San Francisco had increased by 13.8% compared to the previous year, and they are expected to grow by another 6.2% within the next year.
4. San Diego
San Diego is a city on the Pacific coast of California, famous for its warm climate and numerous beaches. In terms of population, it is the second-largest city in California, the eighth-largest in the United States, and the 17th-largest metropolitan area in the U.S.
Area: 963.6 square kilometers
Population: 1.35 million
Median Home Price: $492,500
Unit Price: $3,886/sqm
Price Growth: 6.5% increase year-over-year from 2013
Rental Level: $2,231
San Diego is a city with unique charm, currently home to no fewer than 100,000 Chinese residents. Although the number of Chinese in San Diego was small in the early days, it has grown rapidly in recent years, doubling in a decade. The U.S. Senate's apology for the Chinese Exclusion Act several years ago helped improve the political and social status of Chinese Americans. In recent years, San Diego has attracted an increasing number of Chinese to invest and work there, making it a prime location for them to live and settle down.
5. San Jose
San Jose is a city in the San Francisco Bay Area of California, located in the southern part of the Bay Area, within Santa Clara County and the informal geographic region known as Silicon Valley. It is the third-largest city in California by population, following Los Angeles and San Diego.
Area: 44.62 square kilometers
Population: 370,000
Median Home Price: $716,200
Unit Price: $4,650/sqm
Price Growth: 13.2% increase year-over-year from 2013
Rental Level: $2,813
San Jose is also the home of the world-renowned Silicon Valley and is the fifth California city suitable for Chinese immigration. It is culturally diverse, providing ample space for Chinese residents to develop in politics, economics, and culture, and it is very convenient for daily life. Many new immigrants from mainland China and Taiwan are no longer engaged in traditional industries like catering, but are instead making their mark in the high-tech fields of Silicon Valley, often choosing to live in villa communities near the area.
6. Seattle
Seattle is a port city in Washington state, situated between Puget Sound and Lake Washington, approximately 174 kilometers from the U.S.-Canada border. It is the largest city in the state and the largest city in the Pacific Northwest of the United States.
Area: 369.2 square kilometers
Population: 651,300
Median Home Price: $463,400
Unit Price: $3,638/sqm
Price Growth: 7.4% increase year-over-year from 2013
Rental Level: $2,115
Seattle is the commercial and cultural capital of Washington and the largest city in the Pacific Northwest. Located near the U.S.-Canada border, its climate is very similar to that of Vancouver, Canada, attracting many people to vacation or immigrate there. Statistics show that Seattle's housing prices increased by 7.4% compared to last year, and they are expected to grow by another 5.4% within the next year.
7. New York City
New York is the core of the New York metropolitan area and the largest city in the United States. Located in the northeastern part of the U.S. East Coast, it is the most populous city in the country and a diverse, multi-ethnic city, home to immigrants from 97 countries and regions, with 800 languages spoken.
Area: 789 square kilometers
Population: 8.34 million
Median Home Price: $524,500
Unit Price: $5,457/sqm
Price Growth: 8.5% increase year-over-year from 2013
Rental Level: $2,178
New York has always been called a "melting pot" and is one of the most international cities. It currently has the largest Chinese population in the U.S., and various Chinese enclaves are famous, popular spots. As a world capital, the U.S. possesses countless landmark buildings, shopping paradises, and advanced higher education, continuing to attract people from all over the world with its unique charm. Data shows that New York's housing prices increased by 8.5% compared to last year, and they are expected to grow by another 1.8% over the coming year.
8. Houston
Houston is the largest city in Texas and the fourth-largest city in the United States. It is the largest economic center on the Gulf Coast and one of the fastest-growing major cities in the U.S.
Area: 1,558.4 square kilometers
Population: 2.21 million
Median Home Price: $269,490
Unit Price: $1,421/sqm
Price Growth: 32.5% increase year-over-year from 2013
Rental Level: $1,321
Houston is a city with relatively low living costs and housing prices among the 27 major metropolitan areas in the U.S. with populations exceeding 1.7 million. According to statistics, the Chinese population here is about 100,000 and continues to expand. Various Chinese restaurants, supermarkets, wholesale and retail businesses, as well as financial and service industries are lined up, providing excellent living functionality. In recent years, with the influx of Chinese high-tech professionals, the economic power, scope of activity, and social status of the Chinese community have been gradually rising along with the immigrant population.
9. Orlando
Orlando is a city in central Florida and one of the best leisure and tourism cities in the world. Its climate and temperature make it an excellent destination for travel, camping, water activities, honeymoons, and family trips, with over 26 million tourists visiting Orlando annually.
Area: 287 square kilometers
Population: 250,000
Median Home Price: $131,500
Unit Price: $1,206/sqm
Price Growth: 10.8% increase year-over-year from 2013
Rental Level: $1,172
Orlando is a typical small-to-medium-sized city. While it may not have the hustle and bustle of a metropolis, it is definitely livable, with low living expenses and low income taxes, and a Chinese population of about 20%. Orlando is one of the world's best leisure and tourism cities, with several large lakes in the city and very clean streets. For investment, Orlando also has great appreciation potential; once the economy recovers, housing prices will soar. Data shows that as of July 2014, Orlando's housing prices had increased by 10.8% compared to the previous year, and they are expected to rise by another 4.9% in the coming year.
10. Boston
Boston is the capital and largest city of Massachusetts. Located on the Atlantic coast in the northeastern United States, it was founded in 1630 and is one of the oldest and most culturally significant cities in the U.S.
Area: 100 square kilometers
Population: 4.5 million
Median Home Price: $439,000
Unit Price: $4,673/sqm
Price Growth: 9.4% increase year-over-year from 2013
Rental Level: $2,465
Boston is backed by mountains and faces the sea, hosting the highest density of universities in the world. It is also home to many world-renowned research institutions, Harvard University, and the Massachusetts Institute of Technology. High-quality education is an important reason for attracting immigrants and international students from all over. Boston has a large permanent Chinese population and a Chinatown that ranks in the top three in the U.S. Among the many Chinatowns with complex demographics and varying living standards, Boston's Chinatown is one of the best-managed in the U.S., and relatively speaking, the living standard of the Chinese community is quite good. Data shows that as of July 2014, Boston's housing prices had increased by 9.4% compared to the previous year, and they are expected to rise by another 1.3% in the coming year.
As a leading institution for U.S. investment immigration, Worldway Immigration provides professional and attentive services that permeate every small detail of the investor's immigration process. When clients first arrive in the U.S., the Worldway Customer Service Center will provide comprehensive landing and settlement assistance, including: assisting in arranging airport pick-up for the first entry; assisting with bank account opening procedures; assisting in applying for a Social Security card; assisting with hotel reservations; assisting in booking flights to the U.S.; assisting in contacting driving schools and providing information on driver's license exams; assisting in contacting moving services; assisting in contacting real estate agents, and assisting with renting or purchasing property, among other related matters. For detailed inquiries, please call: 400-138-2929.
