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The median-priced home in Irvine now sits at a lofty $1.56 million.
This means houses in Irvine are nearly four times the price of the national median.
Irvines home prices are high even in pricey California, roughly double the state average price of $784,989.
Irvines 315,000 residents make the city the 13th-largest in California, and the demand for homes has been high.
Part of Irvines appeal is itslow crime rate.
The features and amenities of Irvine are another reason for its popularity.
How Much Would You Have To Earn To Afford a Home in Irvine?
Imagine youre buying a $1.56 million home in Irvine and youre putting 20% down.
That will leave you with a mortgage of $1,248,000.
Assuming a30-year fixed-rate mortgageat 6.5%, that translates to a monthly payment of $8,313.21.
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