Similar to the surrounding areas, it is significantly more expensive compared to the entire country. Even when compared to the city of Los Angeles, it's a little more expensive.
Home prices
The cost of the median home in Irvine is $838,000. This is roughly $43,680 (4%) lower compared to nearby areas.It is roughly $620,500 (285%) higher compared to the US as a whole, and in comparison to the city of Los Angeles it is about $201,100 (31%) higher.
Rents
In Irvine the median rent is $2,361 per month. In comparison to nearby areas this is approximately $377 (19%) higher.Compared to the US as a whole it is approximately $1,299 (122%) higher, and compared to the city of Los Angeles it is approximately $911 (62%) higher.
Nearby places
Tustin
Tustin is Irvine's neighbor to the northwest. Its housing prices are a bit less expensive. Tustin's median home value is $647,500, which works out to $190,500 (29%) lower than Irvine. Its rents are a little less expensive. Tustin's median monthly rent is $1,856, which works out to $505 (27%) lower than Irvine.
Lake Forest
Lake Forest is Irvine's neighbor to the east. Real estate prices there are a little less expensive. The median home in Lake Forest is valued at $647,500, which works out to $190,500 (29%) lower than Irvine. The rent there is a bit less expensive. The median rent in Lake Forest is $2,025 a month, which is $336 (16%) lower than Irvine.
Laguna Woods
Laguna Woods is Irvine's neighbor to the southeast. Its housing prices are significantly less expensive. The median home cost in Laguna Woods is $288,400, which works out to $549,600 (190%) lower than Irvine. Rent there is a lot less expensive. In Laguna Woods the median rent is $1,755 per month, which comes out to $606 (34%) lower than Irvine.
Newport Beach
Newport Beach is Irvine's neighbor to the southwest. The real estate prices there are significantly more expensive. The median home in Newport Beach costs $1,898,900, which is $1,060,900 (55%) higher than Irvine. Rent there is similar. The median rent in Newport Beach is $2,251 per month, which comes out to $110 (4%) lower than Irvine.
North Tustin
North Tustin is about 6 miles north of Irvine. The real estate prices there are somewhat more expensive. The median home in North Tustin costs $926,100, which comes out to $88,100 (9%) higher than Irvine. Its rents are somewhat less expensive. The median rent in North Tustin is $2,033 a month, which works out to $328 (16%) lower than Irvine.
