Quick facts: Irvine, CA

Quick Facts

115.2
Cost of Living
above US average
313,685
Population
12.82
Crime Rate per 1000
below US average
$122,948
Median Income
above US average
$3,026,745
Median House Price
above US average
$3858.86
Average Rent
above US average
6%
Poverty Rate
below US average
4.2%
Unemployment Rate
above US average

πŸ’΅ Affordability Calculator

Based on the 28/36 rule: housing costs should not exceed 28% of your gross income. Compared against local median income of $122,948.

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Income Needed to Buy

βœ— Stretch
$950k/year
Based on $3,026,745 median home price
Assumes 30-year mortgage at 7% with 20% down payment
⚠️ Requires $950k vs median $122,948
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Income Needed to Rent

⚠ Stretch
$165k/year
Based on $3858.86/month average rent
Annual income where rent = 28% of gross
⚠️ Requires $165k vs median $122,948
πŸ’‘ 28/36 Rule: Housing ≀28% of gross income, total debt ≀36%. This is a guideline used by many lenders.

Overview for Irvine, CA

Irvine, California, is a vibrant and planned city located in Orange County, known for its excellent schools, diverse population, and thriving economy. Established in the 1960s, Irvine is home to several higher education institutions, including the University of California, Irvine, which significantly contributes to the city’s cultural and intellectual landscape. The city boasts a plethora of parks and green spaces, promoting an active outdoor lifestyle, with places like the Irvine Regional Park and the Orange County Great Park offering recreational activities. With a strong emphasis on sustainability, Irvine features an array of eco-friendly initiatives and maintains a reputation as one of the safest cities in the U.S. Irvine's economy is robust, driven by technology, education, and healthcare industries, with numerous corporate headquarters and startups in the area. Shopping and dining options abound, particularly in popular destinations like the Irvine Spectrum Center. Culturally diverse, Irvine hosts various events and festivals year-round, enriching its community’s fabric. With a Mediterranean climate, residents enjoy sunny weather most of the year, making it an attractive place for families and professionals alike.

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