Quote · BiggerPockets Real Estate Podcast
Where We'd Invest in Real Estate Right Now (12 Markets)
Where this was said
House Hacking Pick #3: Riverside, California (Henry Washington)
At 44:25 · chapter starts 42:45
Henry Washington's house hacking pick is the episode's most surprising: Riverside, California — the first California market to appear on this show. His criteria were deliberate: find expensive markets where home prices and rents are both above the national average, property taxes are manageable, and renting one duplex unit covers enough of the mortgage to make ownership meaningfully cheaper than renting outright. [1] — Henry Washington "Riverside, CA is the first California market to crack this show's best-markets list. With a $537,000 median price and a duplex unit renting…" 42:40 Riverside clears the bar. A $537,000 median home with 5% down at 6.2% interest produces a $3,000 monthly mortgage payment. Rent one duplex unit for approximately $1,500, and the owner's out-of-pocket drops to about $1,725 per month — roughly $1,000 less than renting a comparable unit in the same market. For California renters who feel permanently locked out of homeownership, Riverside offers a viable path in, with appreciation upside alongside the savings.
A $537,000 median-priced home in Riverside, CA with 5% down at 6.2% 30-year rate produces a ~$3,000/month mortgage payment.
House hacking a duplex in Riverside, CA saves approximately $1,000 per month compared to renting in the same market.
