Irvine city, California Rental Market Trends
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 city, California rental market.
Highlights
An apartment for rent in Irvine city, California typically goes for $2,468 per month, while a single-family home for rent in Irvine city, California has a monthly cost of around $4,728. Renter-occupied units make up 53% of the local housing market, while the rental vacancy rate in Irvine city, California is at 3.5.
Irvine city, California
Average Apartment Rent
$2,468
Y-o-Y Change in Apartment Rent
3.65%
Average Single Family Rent
$4,728
Compared to a year ago, Irvine city, California apartments have recorded a 3.65% rent increase.
Irvine city, California |Median apartment rent trend
Irvine city, California| Average apartment rent by city
Irvine city, California | Apartment rent ranges
At 88.43%, apartments priced over $2,000 represent the bulk of Irvine city, California rentals, while condos priced $1,000 - $1,500 hold the lowest share of the market – 0.61%.
Irvine city, California | Housing tenure
Renters take up 53% of Irvine city, California real estate, occupying a total of 50,263 units, while homeowners live in 45,108 properties.
Median number of rooms of renter-occupied housing units
3.7
Renter Median household income
$76,233
Average household size of renter occupied-housing units
2.61
Rental vacancy rate
3.5%
Irvine city, California | Renter-occupied housing units by no. of bedrooms
There are 22,082 rentals in Irvine city, California with 2 beds making up the highest share of the market, at 44%. Units with 5 or more beds, on the other hand, hold the lowest percentage (1%), amounting to 298 units. Overall, the median number of rooms in Irvine city, California homes for rent is 3.7.
Irvine city, California |Renter-occupied units by age of householder
Most condos for rent in Irvine city, California are occupied by residents in the 25 - 34 years age group (30%), followed by those in the 35 - 44 years age group (23%). At the same time, people in the 85 years and over age group make up the lowest share of the local rental market – 1%.
Irvine city, California | Renter-occupied housing units by family type
Irvine city, California | Renter-occupied housing units by the presence of own children
A total of 28,672 apartments for rent in Irvine city, California, or 57% of all rentals are family households. Additionally, 32% of rental homes include children under the age of 18 – that’s 15,881 units. All in all, the median size of a renter-occupied household in Irvine city, California is 2.61.
Irvine city, California | Renter-occupied housing units by educational attainment
In terms of education, renters holding bachelor degrees or higher make up 62% of the rental market. In contrast, residents with less than a high school degree reside in 3% of the homes for rent in Irvine city, California.
Irvine city, California | Renter-occupied units by year structure built
The highest share of Irvine city, California apartment rentals, namely 26% or 13,272 units, were built 2000 - 2009, followed by those built 1990 - 1999 (19%, 9,356 units), and the ones built 1980 - 1989 (17%, 8,398 units).
Irvine city, California | Renter-occupied units by year householder moved in
Median year renter moved into unit2014
Most Irvine city, California renters (45%) moved in 2010 to 2014, while only 2% of them moved in 1990 to 1999. Overall, the median year renters have occupied their Irvine city, California condos for rent is 2014.
Irvine city, California | Renter-occupied housing units by vehicles available
When it comes to transportation options, 44% of Irvine city, California renters have 2 vehicles available per household, 40% of them have 1 vehicle available, and 7% have no vehicle available.
Irvine city, California | Means of transportation to work of householders living in renter-occupied housing units
Irvine city, California |Geographical mobility in the past year for householders living in renter-occupies housing units
Irvine city, 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 city, 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.
Exceptions: Data sourced from U.S. Census Bureau; American Community Survey, 2018 American Community Survey 5-Year Estimates
