More people are moving into Merced County and the housing market is having trouble keeping up with the growth.
The California Department of Finance reported that the county is the fastest growing in the state. The report showed that more than 4,000 people moved into Merced County last year. The state department shows the county saw a 1.8% population increase since the start of 2017.
Merced County’s population is projected to grow by nearly 68 percent between 2015 and 2060, reaching 452,519 residents. If the state’s estimates prove accurate in other parts of the state, Kern will overtake Fresno in the 10th most populated county by 2052.
Krotik says a big part of it has to do with the growth of UC Merced. About 1000 apartment units are being built in the city of Merced. County officials are working to accommodate the influx of both people and businesses.Another factor is affordability. Los Banos saw the most people moving in with more than 900 new residents. Real estate agents claim most of them are from the Bay Area.
High housing prices along the coast and in the north part of the state – and a reluctance to build more there to meet the demand – will continue to push more people inland, including those who live in the Valley but commute for better-paying jobs
A strong market it’s a good problem to have, but low vacancy will remain a problem until more homes are built to meet the needs of a growing county.