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Despite foreclosures Manteca grew by 1,375 people in 2008

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Despite foreclosures Manteca grew  by 1,375 people  in 2008

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POSTED March 22, 2009 5:30 a.m.
Manteca has spent the last 10 years gaining a bigger chunk of San Joaquin County’s overall population despite being the city with the oldest growth cap policy in place in the entire region.

Department of Finance data indicated 66,451 people called Manteca home in 2008. That’s a gain over 2007 of 1,375 residents.

That flies into the face of “conventional wisdom” by some who contend the city isn’t growing due to the rash of foreclosures.

A closer examination of what is actually going on, though, shows Manteca added almost 500 new housing units in 2008 including 220 single family homes. The rest were in apartment-style senior retirement complex - Prestige Senior Living at Empire Street and Louise Avenue and the Commons at Union Ranch on Union Road north of Lathrop Road.

There were 1,165 existing homes sold in 2008 with 85 percent of them being foreclosures. At year’s end, there were 376 houses that hadn’t been sold. The number includes short sales and homes that aren’t under duress. People are still living in most of the short sales and non-duressed properties listed for sale.

One county media outlet has described Manteca as a “one-time boom (town) that now has (a) school district and city (government) on the verge of bust from tax revenues that mirror a shriveling economy.” Yet property taxes increased in Manteca by 3 percent last year while they dropped everywhere in San Joaquin County from Tracy to Lodi. A lot of the gain was attributed to retail growth that continued as housing slowed down.

New single family home construction was more robust proportionately to existing housing units in Manteca than elsewhere in San Joaquin County in 2008. A lot of that has to do with Del Webb at Woodbridge which has showed steady sales at its 55 and older age restricted Woodbridge community in north Manteca.

Manteca in 1999 had 48,027 residents or 8.66 percent of the overall county population of 554,438. It has gained in percentage every year since. The 66,451 residents in 2008 reflect 9.69 percent of the county’s 685,660 residents.
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