Analytics built by: Location, Inc.
Raw data sources: American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.
Methodology: NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data
With 313,685 people, 110,465 houses or apartments, and a median cost of homes of $1,445,927, Irvine house prices are not only among the most expensive in California, Irvine real estate also is some of the most expensive in all of America.
Large apartment complexes or high rise apartments are the single most common housing type in Irvine, accounting for 38.07% of the city's housing units. Other types of housing that are prevalent in Irvine include single-family detached homes ( 36.80%), row houses and other attached homes ( 18.69%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 5.27%). Cities that are predominantly high-density buildings are relatively uncommon in the US. Because of the density, these types of cities are often walkable and compact, and often have a lively downtown.
People in Irvine primarily live in small (one, two or no bedroom) units, chiefly found in large apartment complexes or high rise apartments. Irvine has a mixture of owner-occupied and renter-occupied housing.
Irvine homes and real estate are some of the newest in America. 49.68% of Irvine's housing was built since 2000, making the city have a very new look and feel. If you like the amenities of newer homes and subdivisions, then you will probably like what the Irvine real estate market has to offer. Quite a bit of the housing here was also built between 1970-1999 ( 45.89%), and between 1940-1969 ( 3.84%).
Appreciation rates for homes in Irvine have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 97.56%, which ranks in the top 40% nationwide. This equates to an annual average Irvine house appreciation rate of 7.05%.
Appreciation rates are so strong in Irvine that despite a nationwide downturn in the housing market, Irvine real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Irvine appreciation rates continue to be some of the highest in America, at 10.40%, which is higher than appreciation rates in 89.07% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Irvine. Irvine appreciation rates in the latest quarter were at 2.09%, which equates to an annual appreciation rate of 8.62%.
Relative to California, our data show that Irvine's latest annual appreciation rate is higher than 90% of the other cities and towns in California.
One very important thing to keep in mind is that these are average appreciation rates for the city. Individual neighborhoods within Irvine differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Irvine - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 2000, to assist you in making the best Irvine real estate investment or home purchase decisions.
$1,445,927
for California
for nation
110,465
$4,795 / per month