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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 Q2 2022. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2020 (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 307,670 people, 96,707 houses or apartments, and a median cost of homes of $1,104,208, 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 38.65% of the city's housing units. Other types of housing that are prevalent in Irvine include single-family detached homes ( 36.48%), row houses and other attached homes ( 18.53%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 5.21%). This particular housing mix is relatively uncommon and characteristic of cities that are compact and walkable, and which 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.

There is a lot of housing in Irvine built from 1970 to 1999 so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in Irvine built between 2000 and later ( 46.48%). A lesser amount of the housing stock also hails from between 1940-1969 ( 4.64%).

Irvine Home Appreciation Rates

In the last 10 years, Irvine has experienced some of the highest home appreciation rates of any community in the nation. Irvine real estate appreciated 103.21% over the last ten years, which is an average annual home appreciation rate of 7.35%, putting Irvine in the top 20% nationally for real estate appreciation. If you are a home buyer or real estate investor, Irvine definitely has a track record of being one of the best long term real estate investments in America through the last ten years.

NeighborhoodScout's data show that during the latest twelve months, Irvine's appreciation rate, at 14.53%, has been at or slightly above the national average. In the latest quarter, Irvine's appreciation rate has been 3.60%, which annualizes to a rate of 15.21%.

Relative to California, our data show that Irvine's latest annual appreciation rate is lower than 60% 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:
$1,104,208

Irvine, CA HOME PRICES

> $1,300,000
$975,001 - $1,300,000
$650,001 - $975,000
$520,001 - $650,000
$390,001 - $520,000
$260,001 - $390,000
$130,001 - $260,000
$65,001 - $130,000
$0 - $65,000
31.2%
31.2%
28.6%
28.6%
27.9%
27.9%
5.9%
5.9%
3.3%
3.3%
1.5%
1.5%
0.8%
0.8%
0.2%
0.2%
0.5%
0.5%
0.0% 100.0%
% OF HOMES
Value Relative To State

Very High for Nation

Very High for CA

Value Relative To Nation

Number Of Homes And Apartments:
96,707

Irvine Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
CA*
Compared To
America*
Latest Quarter:
2022 Q1 - 2022 Q2
Last 12 Months:
2021 Q2 - 2022 Q2
Last 2 Years:
2020 Q2 - 2022 Q2
Last 5 Years:
2017 Q2 - 2022 Q2
Last 10 Years:
2012 Q2 - 2022 Q2
Since 2000:
2000 Q1 - 2022 Q2
231.97% 5.48%
9
10
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$4,406 / per month

Homeownership Rate

Owners
Renters
Vacant
44.0%
44.0%
56.0%
56.0%
7.5%
7.5%
0.0% 100.0%
% OF HOMES

Housing Market Details

 

Age of Homes

2000 or Newer
1970 - 1999
1940 - 1969
1939 or Older
46.5%
46.5%
48.2%
48.2%
4.6%
4.6%
0.7%
0.7%
0.0% 100.0%
% OF HOMES

Types of Homes

Single-Family
Townhomes
Small Apt. Buildings
Apt. Complexes
Mobile Homes
Other
36.5%
36.5%
18.5%
18.5%
5.2%
5.2%
38.6%
38.6%
1.1%
1.1%
0.0%
0.0%
0.0% 100.0%
% OF HOMES

Home Size

No Bedroom
1 Bedroom
2 Bedrooms
3 Bedrooms
4 Bedrooms
5 or more bedrooms
4.6%
4.6%
16.3%
16.3%
30.8%
30.8%
25.0%
25.0%
18.6%
18.6%
4.7%
4.7%
0.0% 100.0%
% OF HOMES