Quick facts: Mission viejo, CA

Quick Facts

127.6
Cost of Living
above US average
91,776
Population
10.2
Crime Rate per 1000
below US average
$136,570
Median Income
above US average
$1,288,230
Median House Price
above US average
$2796
Average Rent
above US average
7%
Poverty Rate
below US average
4.0%
Unemployment Rate
below 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 $136,570.

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Income Needed to Buy

βœ— Stretch
$404k/year
Based on $1,288,230 median home price
Assumes 30-year mortgage at 7% with 20% down payment
⚠️ Requires $404k vs median $136,570
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Income Needed to Rent

βœ“ Affordable
$120k/year
Based on $2796/month average rent
Annual income where rent = 28% of gross
πŸ“Š Median income ($136,570) exceeds requirement
πŸ’‘ 28/36 Rule: Housing ≀28% of gross income, total debt ≀36%. This is a guideline used by many lenders.

Overview for Mission viejo, CA

Mission Viejo is a picturesque city located in Orange County, California. Known for its sprawling suburban landscapes, Mission Viejo boasts a population of approximately 95,000 residents. The city was developed around a man-made lake, which serves as a focal point for recreational activities. With a highly-rated school district and a family-friendly atmosphere, Mission Viejo is an attractive destination for families. The city offers a plethora of parks, sports facilities, and walking trails, promoting an active lifestyle. Notable amenities include the Mission Viejo Lake, where residents can enjoy boating and fishing, and the Oso Creek Trail, perfect for hiking and biking. Mission Viejo is also known for its vibrant shopping and dining scene, with the Mission Viejo Mall and numerous plazas featuring a diverse mix of retail stores and eateries. The community hosts various events and festivals throughout the year, fostering a strong sense of community. Strategically located near major highways, the city provides easy access to neighboring areas and attractions, including beaches, mountains, and theme parks. Overall, Mission Viejo exemplifies the quintessential Southern California lifestyle, balancing suburban tranquility with access to urban amenities.

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