Buying or Selling in Arcata? Arcata is the home of Humboldt State University. (HSU) Arcata has a very strong cultural attraction due to the University's programs and concert series. Property in Arcata usually sell at a premium as many Arcata homeowners are investors or parents of students who buy a home, keep it while their child is in school and then sell or rent it when the child has completed their degree. Arcata is also very progressive and is a leader in innovative environmental policies. Downtown Arcata is a showplace of great restaurants and shops surrounding the "Plaza". An old fashioned community plaza where students and residents can mull and enjoy the classic old town atmosphere. Summers bring a booming "Farmers Market" with local produce, great music and many events.