- Housing prices have tremendously appreciated
year-over-year and have surpassed all median home prices for the
County since 2008, closing out 2013 at five-year highs. February
2014’s median price is $567,000, an increase of $13,000 since
January 2014 and a $90,000 increase compared to the previous
- Average apartment rents for Orange County have
spiked with housing price growth, typically $60 more on average
for 2013 each month compared to the previous year’s equivalent
average. February 2014 saw a significant spike in the countywide
average thanks to large price increases in the cities of Orange
and Irvine. Average rental rates increased to an average of
$1,772 (an increase of $72 versus January 2014, and $142
compared to last February).
- The number of residential building permits in
Orange County has receded since December 2013’s large jump.
January 2014 saw 514 total permits for Orange County, a
month-over-month decline of over 600 and a slight drop compared
to the previous January. Irvine comprised over 30% of permit
activity in the county.