So this video is going to be a two part video. We're going to go over all the stuff that's coming on here in the city of Wildomar, California, as well as Canyon Lake, California. So I had a chance to go to a city managers meeting and hear directly from both of them. I'm going to tell you guys about all the new stuff going on, all the new happenings, and then what is going to be going on over the next 12 months. So let's go ahead and get into it.

Hey guys. Hey again, my name is Justin Short and I'm a realtor and team leader for the short real estate team here in Temecula, California in ME to California. And this video is all about the cities of Will, DeMar and Canyon Lake, California. So this is the last in our little series here, but just like the others, I had a chance to go to a city managers meeting, hear from all the city managers, from the local cities here, and this one's going to be a two-parter. So this is the last in the series we're going to talk about Wildomar and Canyon Lake. The reason being, they're the two smallest cities that we heard from, so they kind of have the least amount going on, and we'll talk a little bit about that. But if you would like real estate videos like this and you want to see more, do me a favor, please Hit like please hit subscribe.

So we have a couple hundred videos now that we've posted here on our channel, and we have new ones that come out each and every week. So there's a lot that you can look through and new ones coming out all the time. So we have market update videos, best neighborhoods, worst neighborhoods, all types of stuff that's out there. And then if you guys have any real estate questions, of course I'd love to hear from you so you can feel free to reach out. You can give me a call, you can text, you can email me. You're going to see my information down below. Of course, we'd love to help and see if there's anything that either myself or my team can do to help you. But we'll get into the video here. Again, we're going to start with the city of Wildomar. It's kind of funny and the same thing happened last year, but it's kind of funny.

Wildomar is such a small city. So the city manager gives up there on the podium and starts giving his spiel, and he is pretty blunt about it. He's like Wildomar. We're a tiny city. We're kind of just starting to grow and honestly, we don't really have a ton going on and they're happy with that. So their plan is just to stabilize and be solidified and be a quality city in the next decade. So there's not a ton that is happening, but they gave out a little bit of information. They did talk about, so as a city, they have income that comes in from the people that live there, shop there and spend money there. So they talked about just kind of a breakdown. The way that comes in for Wildomar is 33% of their income as a city comes straight from property tax and then about 19% from sales tax.

So that was an increase for them that they're getting more sales tax income. So they thought that was a benefit for them. So they're excited about that. They want to obviously see that continue to grow, but as wild DeMar grows and builds more infrastructure, more shopping centers, et cetera, you will see more and more of that income coming. And they did talk a little bit about what's coming soon to the city. So they do, and I've talked about this in some of the other videos, but they have a big expansion that's going on at the Inland Valley Hospital. So I think they're adding five floors to the hospital. So it's a ton of square footage that they're adding on. That's a big thing. In addition to that, there is a new Kaiser building that is currently under construction in Will DeMar. I think it's pretty close to being complete now, but it's massive.

It's right off the freeway. So that's going on. And as well as they have a big, huge road widening project that's going on off of Bundy Canyon. So Bundy Canyon is a main exit in Wildomar off the 15 freeway Bundy Canyon. Actually, if you exit off the freeway and you go east, eventually it takes you out to ee. So they're expanding that from just a tiny little two lane road. And I think it's supposed to be four lanes each direction, I'm pretty sure, but it's a lot bigger over the last couple of years. It really bottlenecks up at rush hour. So that'll be a nice thing as well for sure. But as far as new stuff going on, that is really it for, well tomorrow it's a growing city. It's small, they're just kind of wanting to stabilize and they seem happy with it.

Alright, so the next city that we're going to talk about is the city of Canyon Lake. And this is an area that honestly, I don't really talk a lot about in my videos. It's kind of a niche area compared to the other parts of Southwest Riverside County. But we did hear from the city manager and so I figured it would be some useful information for you guys First. A lot of people are not familiar with Canyon Lake, so it's a pretty cool area. It is located, if you look right between Lake Elsinore and Menifee. So there's a long road that connects Lake Elsinore to Menifee and it's Railroad Canyon, which eventually turns into Newport. And right there smack dab in the middle of those two cities is where Canyon Lake is. So Canyon Lake is, I always thought of it pre-selling real estate. I thought it was just like a community. I didn't realize it was an actual city, but it is an actual city. It is a large gated community. So it's a private gated community that's guard gated that has a ton of amenities inside it. And then in addition to that, outside the gate, so outside of the actual neighborhood, there is a shopping center which has their main strip mall shop shopping center area. They gave some stats about the city, but, so I'll kind of go over those, but if you're not familiar with the area, it's actually really nice. It has.

It's known as a fun area for sure. So as the name implies, there is a lake that's inside the gate. So there's lake, there's boats, there's rentals that are there. I have friends that have their horses there. So there's horse stables and training arenas that are there. A lot of people have golf carts that are there. There's a golf course there is. A lot of people will take their golf cart and put across kind of motor right across the street over to the restaurants and bars that are there. So it's real accessible that way. And overall it's, it's a pretty relaxed area, just a little bit more of a fun area for sure. They read out a stat that it skews more for entrepreneurs. So there are more business owners that live inside Canyon Lake than other areas. So I was kind of surprised about that.

But they kind of laid out some stats. So Canyon Lake is 4.6 square miles so that it is not big, right? It's a pretty small, small area. They have 11,000 people that live within the city limits. The average household income is $120,000 and there's a total of 4,800 properties behind the gate. So in that price range varies quite a bit. So the lowest sale, they said it was about $24,000. That's going to be a small piece of vacant land, I'm sure. So no house, no structure on it, and all the way up to 3.3 million. So they're all custom properties or almost all custom properties in there. So you get a really wide array. So you get obviously on the low end all the way up to the very, very high end, super luxury, super, super nice place that's on the lake, I'm sure with an awesome view, et cetera.

Probably has its own dock, et cetera. But with all that taken into account, the median price inside Canyon Lake is $640,000. There's currently, there's still some vacant land that's for sale or available that's buildable behind the gate. So there's a total of 169 remaining parcels behind the gate that can be built on. And one of the stats that they had talked about is inside their gated community, the average sales price is about $97,000 higher than the average for the rest of Riverside County. So kind of an interesting stat there. Their tagline right now is a little bit of paradise. So Canyon Lake, a little bit of paradise, and it is really known as more of an active and a social community. And they were proud. They just opened up their first fire station just a few months ago. So back in December, 2023. So they have their first fire station.

Now they are as a city, because they are so small, they don't earn a lot of revenue, they don't get a lot of income. So they really get the property taxes and they have one little shopping center. They get income from that. So they are really trying to prioritize their economic development plan. So they're trying to make more money as a city. They do that selling more things or taxing more things. So they're trying to grow businesses and that was a priority for them. Part of that, they did also recently add and implement a rental tax. So if you own a home inside Canyon Lake and you're renting your home out, they have a little inspection process and they charge a little fee tax order for you to rent your home out. So it's a money maker for the city. As a real estate agent, it doesn't sound super cool to me.

I don't think people should be paying more money to rent their house out, but the city's trying to make money and they're trying to figure out a way to do that. So they only have so much space and that's what they thought was in the best of their interest. So there we go. But that's really, really the big thing for Canyon Lake is they're trying to grow economically. They're trying to increase businesses, they're trying to have more business going the shopping center and have them perform better, sell more so they can make more money. So kind of cool. So I know this is kind of a quick video. We talked about Wildomar, talked about Canyon Lake. Those are two cities that really don't get a lot of love here by me, so we don't talk about 'em a ton. So hopefully some good info you have any questions, feel free to reach out. You can call, you can text, you can email. My information is down below or at the end of the video. So hopefully talk to you soon. Thanks.