Situated 87 miles north of San Diego and 41 miles south of Los Angeles, Irvine, CA is right in the center of Orange County. This 66-square mile city is home to 212,400 people. Many organizations have listed Irvine as one of the best places to live in the US, likely due to its robust economy, abundance of good schools, low crime rate, and stable housing,. The city has the typical Southern Californian weather: warm to hot summers and cool winters.
Irvine, CA is a great place for affordable rent-to-own homes! With the current housing shortage trend it can make it harder to become a homeowner, including in Irvine, CA. This means higher than average down payments for homes and higher qualification standards for conventional home loans. With a rent-to-own property, tenants are also buyers. You can live in the house for a set amount of time before you purchase it, meaning that you get to know the house, your neighbors, and your community before making the final purchase. This enables you and your family to make the right choice based on both information and experience. Rent-to-own is also a great alternative way to get into a home if you have bad credit or don't have enough saved for a down payment.
Irvine, CA is seeing rapid growth and Irvine, CA's' housing market remains optimal with an average home price that is -100% below the 2023 national average. Irvine, CA is part of Orange county and taxes are an important factor to consider when purchasing a home whether through rent to own or a traditional purchase. The average tax rate as of 2023 for county Orange is 0.56% which is below the national average, which is 0.99%.
Housing Statistics Looking at the housing market trends of Irvine can offer an idea of the housing stability of this city compared to the state and the rest of the country. As of August 2013, the median home sale price of Irvine is $674,000, which is way higher than California's $376,000 and the nation's $221,000. In the first quarter of 2013, the city's average home sale price is $704,379, which was an increase of 2012's $622,909. As of July 2013, there have been 1,986 homes sold in Irvine, approximately 970 of which are single family type, with 1,016 being condos. Additionally, the annual residential turnover of this city is 33%, with 25% of its population having spent at least the last 5 years living in Irvine.
Local Events The city has many events lined up throughout the year. One popular and widely observed tradition is the Irvine Global Village Festival, which occurs every October. This event showcases local and regional diversity through product exhibits, cultural entertainment, and a sampling of food from different areas of Irvine and Orange County as a whole.
Nightlife Irvine is proof that safety and late-night fun can go hand in hand. One good destination for some late-night action with family or friends is Irvine Spectrum Center. This area offers a wide range of retail, entertainment, and dining options for just about everyone. Games, bars, movie theaters, coffee shops, retail stores- you name it, it's all here. Additionally, Jamboree Diamond just off Alton Parkway is another night-out destination. With its karaoke lounge, eateries, and sweets-treat cafe, this is one spot in Irvine where nocturnal people often hang out.
Neighborhood Guide Irvine is made up of several neighborhoods -- or villages -- as locals prefer to call them. These villages have their distinct ambiance and charm. Whether you're looking for homes for rent, or you're looking to buy your first home, or scouring the area for rent to own deals, choosing the right neighborhood is just as important as choosing the right building for your home. Here's an overview of some popular areas in Irvine: