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Real Estate Prices & Overview

Irvine Spectrum / Irvine Medical and Science Complex median real estate price is $1,453,101, which is more expensive than 86.5% of the neighborhoods in California and 97.2% of the neighborhoods in the U.S.

The average rental price in Irvine Spectrum / Irvine Medical and Science Complex is currently $4,400, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 84.2% of the neighborhoods in California.

Irvine Spectrum / Irvine Medical and Science Complex is a suburban neighborhood (based on population density) located in Irvine, California.

Irvine Spectrum / Irvine Medical and Science Complex real estate is primarily made up of small (studio to two bedroom) to medium sized (three or four bedroom) apartment complexes/high-rise apartments and small apartment buildings. Most of the residential real estate is renter occupied. Many of the residences in the Irvine Spectrum / Irvine Medical and Science Complex neighborhood are newer, built in 2000 or more recently. A number of residences were also built between 1970 and 1999.

Home and apartment vacancy rates are 7.8% in Irvine Spectrum / Irvine Medical and Science Complex. NeighborhoodScout analysis shows that this rate is lower than 49.2% of the neighborhoods in the nation, approximately near the middle range for vacancies.

Notable & Unique Neighborhood Characteristics

When you see a neighborhood for the first time, the most important thing is often the way it looks, like its homes and its setting. Some places look the same, but they only reveal their true character after living in them for a while because they contain a unique mix of occupational or cultural groups. This neighborhood is very unique in some important ways, according to NeighborhoodScout's exclusive exploration and analysis.

Real Estate

The Irvine Spectrum / Irvine Medical and Science Complex neighborhood is very unique in that it has one of the highest proportions of one, two, or no bedroom real estate of any neighborhood in America. Most neighborhoods have a mixture of home or apartment sizes from small to large, but here the concentration of studios and other small living spaces is at near-record heights. With 98.4% of the real estate here of this small size, this most assuredly is a notable feature that makes this neighborhood unique, along with just a handful of other neighborhoods in the U.S. that share this characteristic.

In addition, renter-occupied real estate is dominant in the Irvine Spectrum / Irvine Medical and Science Complex neighborhood. The percentage of rental real estate here, according to exclusive NeighborhoodScout analysis, is 100.0%, which is higher than 99.3% of the neighborhoods in America. If you were to buy and live in the property you bought here, you would be almost alone in doing so.

Furthermore, one of the really unique and interesting things about the look and setting of the Irvine Spectrum / Irvine Medical and Science Complex neighborhood is that it is almost entirely dominated by large apartment buildings, such as apartment complexes or high-rise apartments. 96.0% of the residential real estate here is classified as such. This puts this neighborhood on the map as having a higher proportion of large apartment buildings than 99.2% of all neighborhoods in America.

Also of note, if you like the look and ambience of new homes and newly built neighborhoods, you will love the Irvine Spectrum / Irvine Medical and Science Complex neighborhood. A whopping 87.3% of the homes and other residential real estate here were built after 1999, which is a higher proportion of new homes then you will find in 98.4% of the neighborhoods in the U.S. Everything here just feels new. In fact, the concentration of newer homes here is so great that they completely dominate the landscape. In most neighborhoods, there is a mixture of ages of residential real estate, but here it is almost completely built during one time frame: 2000 through today.

Occupations

Executives, managers and professionals make up 70.5% of the workforce in the Irvine Spectrum / Irvine Medical and Science Complex neighborhood which, according to NeighborhoodScout's exclusive analysis, is a higher proportion of such high-level people than is found in 95.7% of the neighborhoods in America. For this reason, this neighborhood really stands out as unique.

Diversity

Did you know that the Irvine Spectrum / Irvine Medical and Science Complex neighborhood has more Iranian and Arab ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 16.0% of this neighborhood's residents have Iranian ancestry and 5.8% have Arab ancestry.

Irvine Spectrum / Irvine Medical and Science Complex is also pretty special linguistically. Significantly, 10.7% of its residents five years old and above primarily speak Persian at home. While this may seem like a small percentage, it is higher than 100.0% of the neighborhoods in America.

Migration / Stability

Some neighborhoods have more internal cohesiveness than others. While other neighborhoods feel like a collection of strangers who just happen to live near each other. Sometimes this comes down to not only the personalities of the people in a place, but how long people have been together in that neighborhood. NeighborhoodScout's research has revealed some interesting things about the rootedness of people in the Irvine Spectrum / Irvine Medical and Science Complex neighborhood. In the Irvine Spectrum / Irvine Medical and Science Complex neighborhood, a greater proportion of the residents living here today did not live here five years ago than is found in 96.9% of U.S. Neighborhoods. This neighborhood, more than almost any other in America, has new residents from other areas. What is also interesting to note, is that the Irvine Spectrum / Irvine Medical and Science Complex neighborhood has a greater percentage of residents born in another country (47.0%) than are found in 96.8% of all U.S. neighborhoods.

The Neighbors

How wealthy a neighborhood is, from very wealthy, to middle income, to low income is very formative with regard to the personality and character of a neighborhood. Equally important is the rate of people, particularly children, who live below the federal poverty line. In some wealthy gated communities, the areas immediately surrounding can have high rates of childhood poverty, which indicates other social issues. NeighborhoodScout's analysis reveals both aspects of income and poverty for this neighborhood.

The neighbors in the Irvine Spectrum / Irvine Medical and Science Complex neighborhood in Irvine are upper-middle income, making it an above average income neighborhood. NeighborhoodScout's exclusive analysis reveals that this neighborhood has a higher income than 71.8% of the neighborhoods in America. With 24.2% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 74.6% of U.S. neighborhoods.

The old saying "you are what you eat" is true. But it is also true that you are what you do for a living. The types of occupations your neighbors have shape their character, and together as a group, their collective occupations shape the culture of a place.

In the Irvine Spectrum / Irvine Medical and Science Complex neighborhood, 70.5% of the working population is employed in executive, management, and professional occupations. The second most important occupational group in this neighborhood is sales and service jobs, from major sales accounts, to working in fast food restaurants, with 12.9% of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations (11.6%), and 5.0% in manufacturing and laborer occupations.

Languages

The languages spoken by people in this neighborhood are diverse. These are tabulated as the languages people preferentially speak when they are at home with their families. The most common language spoken in the Irvine Spectrum / Irvine Medical and Science Complex neighborhood is English, spoken by 45.4% of households. Other important languages spoken here include Persian, Chinese, Arabic and Spanish.

Ethnicity / Ancestry

Culture is shared learned behavior. We learn it from our parents, their parents, our houses of worship, and much of our culture – our learned behavior – comes from our ancestors. That is why ancestry and ethnicity can be so interesting and important to understand: places with concentrations of people of one or more ancestries often express those shared learned behaviors and this gives each neighborhood its own culture. Even different neighborhoods in the same city can have drastically different cultures.

In the Irvine Spectrum / Irvine Medical and Science Complex neighborhood in Irvine, CA, residents most commonly identify their ethnicity or ancestry as Asian (28.6%). There are also a number of people of Irania ancestry (16.0%), and residents who report Mexican roots (6.5%), and some of the residents are also of Arab ancestry (5.8%), along with some German ancestry residents (5.1%), among others. In addition, 47.0% of the residents of this neighborhood were born in another country.

Getting to Work

Even if your neighborhood is walkable, you may still have to drive to your place of work. Some neighborhoods are located where many can get to work in just a few minutes, while others are located such that most residents have a long and arduous commute. The greatest number of commuters in Irvine Spectrum / Irvine Medical and Science Complex neighborhood spend between 15 and 30 minutes commuting one-way to work (41.1% of working residents), which is shorter than the time spent commuting to work for most Americans.

Here most residents (56.6%) drive alone in a private automobile to get to work. In addition, quite a number also carpool with coworkers, friends, or neighbors to get to work (11.3%) and 6.0% of residents also hop out the door and walk to work for their daily commute. In a neighborhood like this, as in most of the nation, many residents find owning a car useful for getting to work.


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