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If you're a Black Millennial family looking to buy a home in the SF Bay Area, chances are Oakland, California is high on your list.
We get it. With plenty of walkable neighborhoods, fun events happening every day of the week, outdoor activities and a nice mix of diversity, many young professionals have their eye on Oakland property in the Laurel. But is it a good idea to buy in the Laurel? Let's take a look.
Things to do
Tucked in between Redwood Heights and Allendale, The Laurel District has long been a favorite neighborhood for young, black families. With a Walkscore of 78 out of 100, living in The Laurel means being within walking distance of not only fun stuff like breweries, cute boutiques and dining options, but more practical destinations like grocery stores and gyms as well.
Black-Owned Laurel Business: Cocobreeze Caribbean Restaurant
Like we said - plenty of eats in the Laurel District. Get yourself some authentic Trinidadian cuisine that are packed with nutrient dense "superfoods" that have long been part of traditional Trinidadian cuisine. Local and black owned, Chef Anne keeps the menu rotating with weekly specials like Escovitch Red Snapper, plus menu-mainstays like Vegan Curry Chicken with Pelau and Oxtails with Creole rice.
Plus with community events like Island Takeover with DJ's spinning Electropical EDM/Soca fusion vibe, Cocobreeze keeps it hot.
Is buying in the Laurel District a good investment?
Walkability is a plus, but what makes The Laurel a great neighborhood for young black families is that purchasing a home here is a solid financial investment.
Neighborhood housing statistics show that with a median neighborhood home value of $826,000 (compared to Oakland's broader median home value of $851,000)*, purchasing a home in the Laurel District is in reach for many young, black professionals with 2 solid incomes.
Plus, there is a good inventory of starter homes for first time home-buyers to choose from. Roughly 75% of the homes placed on the market in the past 6 months have featured 2 - 3 bedrooms.*
In October 2021, there was 38.4% increase in list price year-over-year, compared to a 3.3% increase in Oakland as a whole and a 7.2% increase in Alameda county*. That significant increase in list price means home values are rising, and confirms buyers have high interest levels in purchasing in the area.
How diverse is the Laurel District for Black families?
Coming in at 40% African American, 37% Hispanic, and 11% Asian, Black families choosing to buy a home in the Laurel District will experience plenty of the ethnic diversity that Oakland is known for.*
What are the schools like in the Laurel District?
Elementary, Middle and High schools in the Laurel District are part of Oakland Unified School District (OUSD). The elementary school Laurel District children attend is generally assigned by neighborhood. As kids transition into middle and elementary schools, the assignment method can change.
Elementary students in the Laurel District will typically attend Allendale Elementary or Laurel Elementary. You can find more information neighborhood schools on the Great Schools website.
All housing data from courtesy of Realtor Property Resource.
About the Author: Gabrielle Hooks
Gabrielle Hooks is a SF Bay Area Realtor focused on the East Bay. Raised and Fremont and a resident of Oakland since 2013, she knows Richmond to San Jose like the back of her hand.
Performing live karaoke, maintaining her house plant garden and rollerskating are a few of her favorite things (#FirstTimeHomeBuyers too!)
@PropertyAndPlants | Contact Gabrielle
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