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Data on this report is based on areas within the legal city boundary, outlined in black on the map. Any additional neighborhoods shown on the map are associated with the city by name and are included for reference only.



Irvine, CA Real Estate Market

Source & Methodology

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.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q4 2023. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2022 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data

Irvine, CA Housing Market Trends

With a population of 313,685, 110,465 total housing units (homes and apartments), and a median house value of $1,252,759, 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 with mostly row houses, apartments, and other high density housing types are relatively uncommon, and characteristic of compact cities that frequently have a downtown or other neighborhoods where amenities are within walking distance and a lot of street life can be seen.

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%).

Irvine Home Appreciation Rates

Real estate appreciation rates in Irvine's have tracked to near the national average over the last then years, with the annual appreciation rate averaging 5.90% during the period.

Over the last year, Irvine appreciation rates have trailed the rest of the nation. In the last twelve months, Irvine's appreciation rate has been 2.87%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Irvine were at 0.15%, which equates to an annual appreciation rate of 0.59%.

Relative to California, our data show that Irvine's latest annual appreciation rate is higher than 70% 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.

Average Home Values

Median Home Value

$1,252,759

Irvine, CA Home Prices
> $1,202,000
$902,001 - $1,202,000
$601,001 - $902,000
$481,001 - $601,000
$361,001 - $481,000
$240,001 - $361,000
$120,001 - $240,000
$60,001 - $120,000
$0 - $60,000
47.5%
47.5%
29.2%
29.2%
15.4%
15.4%
3.2%
3.2%
1.3%
1.3%
1.3%
1.3%
0.9%
0.9%
0.4%
0.4%
0.8%
0.8%
0% 100.0%
% of Homes
Very High

for California

Very High

for nation

Number of Homes And Apartments:

110,465

Irvine Appreciation Rates

Rent & Ownership

Average Market Rent:

$4,601 / per month

Homeownership Rate

Owners
Renters
42.4%
42.4%
57.6%
57.6%
0% 100.0%
% of Homes

Vacancy Rate

Vacant
Occupied
7.3%
7.3%
92.7%
92.7%
0% 100.0%
% of Homes

Housing Market Details

Age of Homes

2000 or Newer
1970 - 1999
1940 - 1969
1939 or Older
49.7%
49.7%
45.9%
45.9%
3.8%
3.8%
0.6%
0.6%
0% 100.0%
% of Homes

Types of Homes

Single-Family
Townhomes
Small Apt. Buildings
Apt. Complexes
Mobile Homes
Other
36.8%
36.8%
18.7%
18.7%
5.3%
5.3%
38.1%
38.1%
1.1%
1.1%
0.0%
0.0%
0% 100.0%
% of Homes

Home Size

No Bedroom
1 Bedroom
2 Bedrooms
3 Bedrooms
4 Bedrooms
5 or more bedrooms
4.8%
4.8%
16.6%
16.6%
29.9%
29.9%
24.5%
24.5%
19.3%
19.3%
5.0%
5.0%
0% 100.0%
% of Homes