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Irvine, California Rental Market Trends

Disclaimer:

Any shifts in rent prices brought forth by the COVID-19 pandemic are not yet reflected in the statistics on this page. Please bear this in mind when referencing the data below, as it may not accurately describe the current context of the Irvine, California rental market.

Irvine, California

Average Apartment Rent

$3,104

Y-o-Y Change in Average
Apartment Rent

-1.2%

As of July 2023

Compared to a year ago, Irvine, California apartments have recorded a -1.2% rent decrease.

Irvine, California |Average apartment rent trend

Median Rent Aug 2020 Jan 2021 May 2021 Sep 2021 Nov 2021 Mar 2022 Jul 2022 Nov 2022 Mar 2023 Jul 2023
Irvine $2,329 $2,371 $2,415 $2,598 $2,901 $3,074 $3,142 $3,162 $3,069 $3,104
National $1,391 $1,395 $1,403 $1,488 $1,584 $1,624 $1,696 $1,713 $1,701 $1,726
Irvine
National
Aug 2020
$2,329
$1,391
Jan 2021
$2,371
$1,395
May 2021
$2,415
$1,403
Sep 2021
$2,598
$1,488
Nov 2021
$2,901
$1,584
Mar 2022
$3,074
$1,624
Jul 2022
$3,142
$1,696
Nov 2022
$3,162
$1,713
Mar 2023
$3,069
$1,701
Jul 2023
$3,104
$1,726
View as table View as graph
Access comprehensive real estate data and information on Yardi ® Matrix

Irvine, California| Average apartment rent

Irvine, California | Apartment rent ranges

Under $500
$500 - $700
$700 - $1000
$1,000 - $1,500
$1,500 - $2,000
Over $2,000

At 98.7%, apartments priced Over $2,000 represent the bulk of Irvine, California rentals, while condos priced $1,000 - $1,500 hold the lowest share of the market – 0.23%.

Irvine, California | Housing tenure**

Renter occupied housing units
52,949
Owner occupied housing units
43,758

Renters take up 55% of Irvine, California real estate, occupying a total of 52,949 units, while homeowners live in 43,758 properties.

Median number of rooms of renter-occupied housing units**

3.7

Renter median household income**

$86,626

Average household size of renter-occupied housing units**

2.65

Rental vacancy rate**

4.2%

Irvine, California | Renter-occupied housing units by no. of bedrooms**

No bedrooms 4,097
1 bed 14,472
2 beds 21,656
3 beds 9,043
4 beds 3,036
5 or more beds 645

There are 21,656 rentals in Irvine, California with 2 beds making up the highest share of the market, at 41%. Units with 5 or more beds, on the other hand, hold the lowest percentage (1%), amounting to 645 units. Overall, the median number of rooms in Irvine, California homes for rent is 3.7.

Irvine, California |Renter-occupied units by age of householder**

15 - 24 years 5,688
25 - 34 years 15,687
35 - 44 years 12,769
45 - 54 years 9,316
55 - 59 years 2,880
60 - 64 years 1,712
65 - 74 years 2,834
75 - 84 years 1,183
85 years and over 880

Most condos for rent in Irvine, California are occupied by residents in the 25 - 34 years age group (30%), followed by those in the 35 - 44 years age group (24%). At the same time, people in the 75 - 84 years age group make up the lowest share of the local rental market – 2%.

Irvine, California | Renter-occupied housing units by family type**

Family households
29,116
Non-Family housesholds
23,833

Irvine, California | Renter-occupied housing units by the presence of own children**

With related children of the householder under 18
16,865
No related children of the householder under 18
36,084

A total of 29,116 apartments for rent in Irvine, California, or 55% of all rentals are family households. Additionally, 32% of rental homes include children under the age of 18 – that’s 16,865 units. All in all, the median size of a renter-occupied household in Irvine, California is 2.65.

Irvine, California | Renter-occupied housing units by educational attainment**

Less than high school graduate 1,719
High school graduate (including equivalency) 4,648
Some college or associate's degree 13,007
Bachelor's degree or higher 33,575

In terms of education, renters holding bachelor degrees or higher make up 63% of the rental market. In contrast, residents with less than a high school degree reside in 3% of the homes for rent in Irvine, California.

Irvine, California | Renter-occupied units by year structure built**

Built 2014 or later 6,539
Built 2010 - 2013 5,379
Built 2000 - 2009 14,805
Built 1990 - 1999 9,150
Built 1980 - 1989 7,613
Built 1970 - 1979 6,802
Built 1960 - 1969 1,500
Built 1950 - 1959 369
Built 1939 or earlier 690

The highest share of Irvine, California apartment rentals, namely 28% or 14,805 units, were Built 2000 - 2009, followed by those Built 1990 - 1999 (17%, 9,150 units), and the ones Built 1980 - 1989 (14%, 7,613 units).

Irvine, California | Renter-occupied units by year householder moved in**

Moved in 2017 or later 8,392
Moved in 2015 to 2016 30,297
Moved in 2010 to 2014 10,338
Moved in 2000 to 2009 3,089
Moved in 1990 to 1999 703

Median year renter moved into unit2017

Most Irvine, California renters (57%) moved in 2015 to 2016, while only 1% of them moved in 1990 to 1999. Overall, the median year renters have occupied their Irvine, California condos for rent is 2017.

Irvine, California | Renter-occupied housing units by vehicles available**

No vehicle available 3,867
1 vehicle available 20,920
2 vehicles available 23,107
3 vehicles available 3,578
4 vehicles available 1,046
5 or more vehicles available 431

When it comes to transportation options, 44% of Irvine, California renters have 2 vehicles available per household, 40% of them have 1 vehicle available, and 7% have No vehicle available.

Irvine, California | Means of transportation to work of householders living in renter-occupied housing units**

Car, truck, or van - drove alone 49,562
Car, truck, or van - carpooled 5,390
Public transportation (excluding taxicab) 843
Walked 3,881
Taxicab, motorcycle, bicycle, or other means 2,598
Worked at home 8,309

Irvine, California |Geographical mobility in the past year for householders living in renter-occupied housing units**

Same house as 1 year ago 93,372
Moved within same county 25,721
Moved from different county within same state 9,552
Moved from different state 4,186
Moved from abroad 5,447

Irvine, California | Average apartment rent by zip codes


The rental statistics on this page were compiled using data provided by our sister company, Yardi Matrix, an apartment market intelligence solution which offers comprehensive information on all Irvine, California apartment buildings 50 units or larger. Yardi Matrix covers ~80% of the U.S. metro area population, including over 80,000 properties and 15.2 million apartments across 124 U.S. markets.

*Average single-family rent calculated from point2homes.com data.

**Data sourced from U.S. Census Bureau; American Community Survey, 2020 American Community Survey 5-Year Estimates

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