2018 Housing Prices, what are the indications?
- Thread starter shahshah
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The median income of the city is a reasonable proxy for the readers of your post here on TI.
It means the sky is falling, haha. Look at these 2/2, 1545 sq ft. Woodbury condos. First one listed $875k, second $825k, third today at $735k. Okay, upgrades and such matter, but still. Herky-jerky list prices in either direction (up or down) are a canary in the coal mine.
https://www.redfin.com/CA/Irvine/53-Mission-Bell-92620/home/58557215https://www.redfin.com/CA/Irvine/63-Mission-Bell-92620/home/45377474https://www.redfin.com/CA/Irvine/74-Nature-92620/home/45377766
Yes that means household (all persons combined in the house) median is 90K...not individual. You multiplied 90K x 2 to arrive at 180K but that is not correct. It's 90K as you just sourced for couples in Irvine.
We've had this discussion before and median household income for Irvine is a little distorted due to the university students, and also due to FCB's that don't report income. Even if you removed those two groups, I don't think the household median income would be close to $180k though.
According to the 2010 Census it has a lower percentage of seniors than OC as a whole (8.7% vs. 11.6%).
Both of those percentages have probably gone up since 2010 due to aging Boomers, but I'm sure Irvine is still less than the county average. There would no reason for an influx of seniors to buy a "Volvo" at this stage in their lives.
This means the median household income stat is getting a slight boost from the lower number of seniors living in Irvine compared to other parts of OC.
https://www.census.gov/quickfacts/fact/table/irvinecitycalifornia,orangecountycalifornia/PST045217
Does it really matter what's the median household income of Irvine are since majority of household are not in the market buying a home? The buyer pool's median income is all that matter but that info is really hard to come by.
Also if we look at median household income of Newport Beach, which is $106,333 according to wiki, that also doesn't explain how these household can afford the median home price of Newport Beach at $1,741,900 (according to Zillow).
And their senior population is > 19%!!
Hugo Township
Active member
Burn That Belly said:
The median income of the city is a reasonable proxy for the readers of your post here on TI.
Burn That Belly
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Hugo Township
Active member
What's your source on that for the median Irvine household income? I am seeing a much lower number listed using google.
And your source for the median income of millenials living and/or working in Irvine?
And your source for the median income of millenials living and/or working in Irvine?
Burn That Belly
New member
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shahshah said:and the market drops a little. what does that mean?
It means the sky is falling, haha. Look at these 2/2, 1545 sq ft. Woodbury condos. First one listed $875k, second $825k, third today at $735k. Okay, upgrades and such matter, but still. Herky-jerky list prices in either direction (up or down) are a canary in the coal mine.
https://www.redfin.com/CA/Irvine/53-Mission-Bell-92620/home/58557215https://www.redfin.com/CA/Irvine/63-Mission-Bell-92620/home/45377474https://www.redfin.com/CA/Irvine/74-Nature-92620/home/45377766
Loco_local
Active member
If you were an immigrant working in a high tech field and were told your wife would be unable to get a work visa and the probability that your relatives would be unable to move here, how willing would you be to shell out a million dollars for a condo?
Burn That Belly said:HMart said:
Wikipedia: $90,585https://en.wikipedia.org/wiki/Irvine,_California
City of Irvine: $92,663http://www.cityofirvine.org/about-irvine/demographics
datausa.io: $93,781https://datausa.io/profile/geo/irvine-ca/
Trulia is $100,521.https://www.trulia.com/real_estate/Irvine-California/
Census.gov (based on 2016)
Median income in 2016 dollars: $93,823https://www.census.gov/quickfacts/fact/table/irvinecitycalifornia/PST045216
Let's just say $93K is the median household income, ya heard!?!
If you have to ask this question, I'm guessing you're falling behind the rat race? ;D
Yes that means household (all persons combined in the house) median is 90K...not individual. You multiplied 90K x 2 to arrive at 180K but that is not correct. It's 90K as you just sourced for couples in Irvine.
Liar Loan
Well-known member
Halos said:Burn That Belly said:HMart said:
Wikipedia: $90,585https://en.wikipedia.org/wiki/Irvine,_California
City of Irvine: $92,663http://www.cityofirvine.org/about-irvine/demographics
datausa.io: $93,781https://datausa.io/profile/geo/irvine-ca/
Trulia is $100,521.https://www.trulia.com/real_estate/Irvine-California/
Census.gov (based on 2016)
Median income in 2016 dollars: $93,823https://www.census.gov/quickfacts/fact/table/irvinecitycalifornia/PST045216
Let's just say $93K is the median household income, ya heard!?!
If you have to ask this question, I'm guessing you're falling behind the rat race? ;D
Yes that means household (all persons combined in the house) median is 90K...not individual. You multiplied 90K x 2 to arrive at 180K but that is not correct. It's 90K as you just sourced for couples in Irvine.
We've had this discussion before and median household income for Irvine is a little distorted due to the university students, and also due to FCB's that don't report income. Even if you removed those two groups, I don't think the household median income would be close to $180k though.
Loco_local
Active member
Also a lot of retired people who bought their house for under $100,00.
irvinehomeowner
Well-known member
I do think that Irvine has a larger senior community than other OC cities... except for Laguna Woods.
Liar Loan
Well-known member
irvinehomeowner said:I do think that Irvine has a larger senior community than other OC cities... except for Laguna Woods.
According to the 2010 Census it has a lower percentage of seniors than OC as a whole (8.7% vs. 11.6%).
Both of those percentages have probably gone up since 2010 due to aging Boomers, but I'm sure Irvine is still less than the county average. There would no reason for an influx of seniors to buy a "Volvo" at this stage in their lives.
This means the median household income stat is getting a slight boost from the lower number of seniors living in Irvine compared to other parts of OC.
https://www.census.gov/quickfacts/fact/table/irvinecitycalifornia,orangecountycalifornia/PST045217
Burn That Belly
New member
x
irvinehomeowner
Well-known member
Heh... I said "other OC cities", not to the Orange County average... as that number can be skewed.
You keep hitting me with generalities.
Aliso Viejo is only 5.2%.
You keep hitting me with generalities.
Aliso Viejo is only 5.2%.
Liar Loan said:Halos said:Burn That Belly said:HMart said:
Wikipedia: $90,585https://en.wikipedia.org/wiki/Irvine,_California
City of Irvine: $92,663http://www.cityofirvine.org/about-irvine/demographics
datausa.io: $93,781https://datausa.io/profile/geo/irvine-ca/
Trulia is $100,521.https://www.trulia.com/real_estate/Irvine-California/
Census.gov (based on 2016)
Median income in 2016 dollars: $93,823https://www.census.gov/quickfacts/fact/table/irvinecitycalifornia/PST045216
Let's just say $93K is the median household income, ya heard!?!
If you have to ask this question, I'm guessing you're falling behind the rat race? ;D
Yes that means household (all persons combined in the house) median is 90K...not individual. You multiplied 90K x 2 to arrive at 180K but that is not correct. It's 90K as you just sourced for couples in Irvine.
We've had this discussion before and median household income for Irvine is a little distorted due to the university students, and also due to FCB's that don't report income. Even if you removed those two groups, I don't think the household median income would be close to $180k though.
Does it really matter what's the median household income of Irvine are since majority of household are not in the market buying a home? The buyer pool's median income is all that matter but that info is really hard to come by.
Also if we look at median household income of Newport Beach, which is $106,333 according to wiki, that also doesn't explain how these household can afford the median home price of Newport Beach at $1,741,900 (according to Zillow).
irvinehomeowner
Well-known member
lnc said:
And their senior population is > 19%!!
Burn That Belly
New member
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