While the overall cost of living in Irvine is slightly higher than the national average, housing prices are more affordable than neighboring coastal cities like Newport Beach. You get great value here when factoring in Irvine's exceptional safety, schools, parks and amenities.
The median home price is around $900,000, with new communities offering homes in the $600-$800k range. This thriving housing market sees strong demand that keeps sale prices high. Property tax rates are low thanks to Proposition 13. Home values continue rising steadily.
New construction can be found throughout Irvine, with master planned communities building brand new single-family homes from builders like KB Home, Lennar, and Toll Brothers. Stylish homes come with modern amenities. Apartment communities offer resort-style pools, gyms and more.
Prime areas to purchase real estate include Portola Springs, a new family-friendly community, Woodbury with its amenities like pools, parks and a clubhouse, the prestigious gated neighborhood of Turtle Rock, University Park within walking distance to UCI, and Northwood with attractive homes near schools and parks.
Investing in Irvine real estate provides a strong opportunity, as home values and demand are expected to keep rising. The low crime rate keeps neighborhoods desirable long-term. Limited supply due to few remaining open lots coupled with high demand among buyers and renters make Irvine a hot market.
Irvine provides a great quality of life at a relatively affordable cost compared to other elite SoCal cities. It remains a prime real estate market for buyers and investors alike.