The City of Orange housing market presents a snapshot of Orange County’s vibrant property scene, offering insights into the diverse range of home prices and the demand within this quintessentially Southern Californian community. This analysis provides an in-depth look at the nuances of the City of Orange’s real estate, comparing it to the broader county market and highlighting the unique aspects that make it an attractive place for potential buyers. From the stately single-family homes that dot its neighborhoods to the more economical townhouses and condos, the City of Orange caters to a variety of preferences, balancing suburban comfort with the perks of urban living. Whether you’re drawn to the historical charm of Old Towne Orange or the modern amenities scattered throughout the city, this report guides you through the current market conditions, providing a comprehensive tool for those considering calling the City of Orange home.
Table of Contents
City Of Orange Housing Market Data
1. Median Home Price
This section analyzes Orange, California’s housing market by detailing current home prices and breaking them down by property type. It outlines the general trend of higher pricing for single-family homes compared to townhouses and condos. Additionally, it includes a comparison of Orange’s home prices with those in other Orange County cities, allowing for a broader understanding of its market position. The data will equip prospective buyers with valuable insights for making informed purchasing decisions in the City of Orange.
- Current Sales Prices of Orange Homes
The provided table outlines the current median home sales prices in the City of Orange, with an overall median price of $968,000. Single-family homes typically reach higher values, with a median price of $1,060,000, while townhouses and condos offer more affordable living options at $761,000 and $647,250, respectively. These figures represent a diverse Orange housing market that can meet the needs of various homebuyers, from those seeking the exclusivity of single-family homes to those looking for the affordability of condos and townhouses.
| Property Type | Orange Median Home Sales Price |
| All Properties | $968,000 |
| – Single-Family Home | $1,060,000 |
| – Townhouse | $761,000 |
| – Condominium | $647,250 |
All data is from the California Regional Multiple Listing Service, INC. InfoSparks © 2024 ShowingTime.
- Orange Home Sales Prices Over Time
The charts detail the home sales price trends for the City of Orange and compare them to the broader Orange County market. The City of Orange exhibits a more gradual rise in median home sales prices compared to some other cities in Orange County, like Newport Beach. The graphs reveal a steady market for all property types—single-family homes, condominiums, and townhouses—with prices showing a consistent increase over time but recently beginning to plateau. This suggests a balanced market in Orange City, where the demand for various types of properties remains strong without the rapid price escalations seen in some of the county’s more premium markets.
- Current Home Sales Prices – Orange vs. Other Orange County Cities
The median home sales price in the City of Orange positions it within the mid-tier range of Orange County’s real estate market. While the city doesn’t command the top-tier prices seen in coastal areas like Newport Beach and Laguna Beach, its real estate market is still robust, offering a mix of affordability and value. This makes the City of Orange an appealing choice for buyers looking for a blend of suburban charm and urban convenience, with more attainable pricing than its luxurious coastal counterparts.
2. Supply and Demand – City of Orange Housing Market
This section comprehensively examines Orange’s housing market’s supply and demand dynamics. It outlines the total housing stock, active listings, recent sales, current inventory level, and how quickly homes sell. A snapshot of these indicators helps illustrate the market’s fluidity and efficiency, providing prospective buyers with a clearer understanding of the pace and health of Orange’s real estate activities.
- Key Housing Market Indicators – Orange
A steady flow of real estate activity characterizes the City of Orange housing market. With around 46,900 homes within the city and an average of 97 properties listed for sale each month, there is a healthy availability of homes. Sales data shows an average of 60 homes sold monthly, creating a competitive market with an inventory that lasts about 1.5 months. Properties in Orange are selling relatively quickly, with an average of just ten days on the market before an offer is accepted, indicating a strong demand for homes in this historically rich and charming city.
| Total Homes in Orange | ~46,900 |
| Active Home Listings | 97 |
| Homes Sold | 60 |
| Inventory – Months Supply | 1.5 |
| Days on Market | 10 |
Total Homes in Orange: This refers to the approximate number of residential properties within the city.
Active Home Listings: The number of homes currently listed for sale in Orange.
Homes Sold: This is a count of the actual sales that have closed in a given month. Calculations are based on sold data.
Inventory—Months Supply: The inventory of homes for sale at the end of a given month, divided by the average monthly Pending Sales from the last 12 months. This is also known as the absorption rate.
Days on Market: The average number of days between listing a home in Orange and accepting an offer in a given month.
- Orange Active Listings vs. Homes Sold Over Time
In the City of Orange, the real estate market has shown an adjustment, with a decline in active listings from early 2021 levels. The past year has seen inventory and sales stabilize, moving towards an equilibrium. This trend indicates a more balanced market where the supply of homes aligns closely with buyer demand, ensuring a steady sales pace without the frenetic activity of previous periods.
- Current Days on Market – Orange vs. Other Orange County Cities
In Orange, homes tend to sell more quickly than in many surrounding areas of Orange County, as evidenced by the notably short median duration on the market. This rapid turnover rate highlights Orange’s strong real estate demand, positioning it as a sought-after location where properties are both listed and closed efficiently, reflecting a dynamic and attractive market for potential buyers.
3. Property Taxes
Property taxes in California are determined by a combination of state law and county-specific regulations. Under Proposition 13, enacted in 1978, the base tax rate for properties is fixed at 1% of the assessed value. This assessed value is initially pegged to the purchase price and can only increase by a maximum of 2% annually, safeguarding homeowners from steep tax hikes when property values escalate quickly.
Orange County follows this state framework but also applies additional levies that can vary significantly between locations within the county. These can include voter-approved debt rates for city and district improvements, and direct assessments for community services like flood control and street lighting. Also, properties in areas with Mello-Roos districts may incur additional taxes for community facilities.
To aid in understanding, consider the property tax bill example below. It breaks down the individual components that constitute the total tax obligation. Notably, while the General Tax Levy remains constant at 1%, the aggregate of additional charges, such as special district assessments, significantly affects the overall tax bill. These variations emphasize the importance of due diligence in comprehending the full scope of property taxes when assessing the cost of homeownership in different parts of Orange County.
4. Median Home Size
This section examines the median home size and price per square foot in Orange, essential indicators for assessing property value and space. These metrics aid prospective buyers in comparing market value and understanding what their budget can secure in terms of home size, especially in relation to other areas in Orange County.
- Orange Home Size and Value
The city of Orange features homes with a median size of approximately 1,680 square feet, which places it in the low to middle range for home sizes in Orange County. Moreover, the city’s real estate market values property at an average of $578 per square foot, situating Orange on the more accessible side of the county’s pricing spectrum without compromising too much on the spaciousness of the homes.
| Median Home Size | ~1,680 ft2 |
| Price per Square Foot | $578 |
All data is from the California Regional Multiple Listing Service, INC. InfoSparks © 2024 ShowingTime.
City of Orange Residents Data
1. Population
Exploring the dynamics of Orange’s population and its density offers a glimpse into the city’s living conditions and community structure. Population density, which measures the number of residents per square mile, sheds light on how closely people live together and can indicate the balance between urban development and available living space. Understanding this helps explain how population concentration impacts the social fabric, infrastructure, and lifestyle of residents in Orange in relation to other parts of Orange County.
- Orange Population Statistics
Orange has a large population of around 132,928 and a moderate density of 5,179 residents per square mile, indicating a solid blend of urban living with adequate community space.
| Population | 132,928 |
| Population Density (Residents per square mile) | 5,179 |
- Population Density – Orange vs. Other Orange County Cities
The map illustrates the various levels of population density across Orange County, with the City of Orange characterized by an intermediate population concentration, as indicated by the middle blue shade. This moderate residential density signifies that Orange provides a balanced lifestyle—less densely populated than the inner-city areas like Santa Ana, yet more community-oriented than the outlying, less populated regions. This makes Orange an ideal locality for those who appreciate a blend of suburban tranquility and urban accessibility.
2. Employment Industries and Median Income
Exploring Orange’s economic landscape reveals the key employment sectors underpinning the local job market and the median household income, which reflect the community’s overall financial health. A deeper understanding of these factors helps frame Orange’s economic position within the wider context of Orange County.
- Orange Industries and Employment Breakdown
In Orange, the workforce is notably concentrated in Health Care & Social Assistance, making it the leading employment sector, with Professional, Scientific, & Technical Services following closely. Educational Services and Retail Trade also make up significant portions of the job market. This diverse employment profile underscores the city’s commitment to essential health services, professional and technical expertise, educational development, and a vibrant retail industry, reflecting a balanced and dynamic economic environment.
- Orange Median Household Income and Employment Rate
In the City of Orange, the median household income stands at $105,572, positioning it in the lower middle range compared to other cities in Orange County. The employment rate, at 64.80%, is reasonably strong, indicating a stable labor market. This suggests that the city offers a diverse economic fabric with a range of job opportunities and wage levels, appealing to a broad segment of the workforce.
| Median Household Income | $105,572 |
| Employment Rate | 64.80% |
(ages 16 and over) that is employed, excluding those not seeking employment, such as retirees and students.
Source: US Census Bureau
3. City of Orange Attractions
Orange, California is a city that prides itself on a rich history, vibrant community, and a unique blend of old and new. Its attractions include:
- Old Towne Orange Historic District: A picturesque area centered around a classic traffic circle, featuring antique shops, eateries, and well-preserved buildings from the early 1900s.
- Orange County Zoo: Nestled inside Irvine Park, it focuses on animals and plants native to the Southwestern United States, offering an intimate zoo experience.
- Irvine Regional Park: The oldest regional park in Orange County offers a wide array of recreational activities, such as paddle boating, bike rentals, and pony rides, against a scenic backdrop.
- Chapman University: A private university known for its striking architecture, film school, and engaging cultural events open to the public.
- The Outlets at Orange: An open-air shopping and entertainment complex with leading brand outlets, a movie theater, and an array of dining options.
- Hilbert Museum of California Art at Chapman University: Showcasing artwork that highlights the history and culture of California, with a focus on the 20th century.
- Santiago Oaks Regional Park: This is a haven for outdoor enthusiasts. Its trails cater to hikers, mountain bikers, and equestrians, offering panoramic views of Orange and beyond.
- Villa Park Orchards Packinghouse: A historical citrus packing house that symbolizes Orange’s agricultural past, now repurposed for community events and educational purposes.
- Paris in a Cup: A charming tea salon offering a taste of French culture and cuisine, nestled in the heart of Old Towne Orange.
- Steve Ambriz Memorial Park: A community park featuring sports facilities, playgrounds, and picnic areas, dedicated to a beloved local figure.
Orange harmoniously combines the charm of small-town living with the conveniences and cultural offerings of a large city, making it a unique gem in Southern California.
Conclusion
The City of Orange emerges as a diverse and accessible market within the fabric of Orange County’s real estate tapestry. Providing a variety of housing options, the market remains robust, evidenced by its stable pricing and swift home sales. The city’s economic health, marked by a balanced mix of industries and a median household income in the lower middle range of the county, offers potential for growth and stability. Orange stands out as a community that blends suburban appeal with the amenities of urban life, maintaining a quality of living that is both desirable and attainable.
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