Orange County’s Neighborhoods that are the most affordable with decent commutes to the work hub of Irvine.
Trying to find an affordable place to live in Orange County has become gradually harder as of late even if year over year sales have declined. According to Redfin the average sale price for a single-family home in Orange County is $690,000. Although, there are still areas in Orange County where you can buy a home for a reasonable price and still commute to work to its work hub, Irvine.
Some of these areas are scheduled for redevelopment, so buying a home soon could become a smart investment choice. The following are some of Orange County’s most affordable neighborhoods, based on recent data of the average home sales price. Some of these communities are true Orange County gems!
Rancho Santa Margarita
Average Sales Price: $604,834
Median Home Value: $660,700
Rancho Santa Margarita 92688: $575,000 median, down 7.3 percent. (OC Register Nov 26, 2018)
A master-planned community with a population of approximately 50,000 residents with a very high median household income of $102,975. It offers enchanting scenery, safe neighborhoods, newer homes, and a great school district. The city’s local businesses have been a big part of the city’s growth dating back to 1999.
Whether you’re a resident of esteemed neighborhoods like Dove Canyon, Melinda Heights, Rancho Cielo, or any of the other neighborhoods, you’ll find single family homes and condos available.
Rancho Santa Margarita always a variety of festivals, concerts, and other family-friendly activities going on that make living there really enjoyable. Residents use the 241 and 133 toll roads or carpool and use the HOV lanes to and from Irvine.
Aliso Viejo
Average Sales Price: $630,451
Median home value in Aliso Viejo is $632,229
Features a lot of newer built homes with interesting architecture and scenic views. Bordered by Laguna Beach, Laguna Woods, Laguna Niguel and Laguna Hills, Aliso Viejo is a very nice neighborhood with homes enabling buyers to purchase at a very attractive price tag.
Santa Ana
Average Home Price: $566,474
Median Home Value: $549,900
Santa Ana is the underdog that’s seen major improvement over the past year. It was once considered more of a rough area with a long road ahead, but the turn-around has been dramatic and fast. Young people have put a lot of energy into turning this section of the area around, and the ripple effect has been seen across the city. Its additions of hip, new restaurants and pubs and, especially, their contributions to the community with their artistic endeavors will continue to make this area popular for both students and young professionals for years to come.
The French Park, Floral Park, and Park Santiago neighborhoods
Garden Grove
Average Sales Price: $604,834
Median Home Value: $615,100
Garden Grove’s neighborhood known as Little Saigon, has the largest Vietnamese community in the US. This translates to some of the best Vietnamese restaurants in the country.
A part of the city is just 1 mile away from Disneyland, seven miles from Knott’s Berry Farm, only nine miles to the local beaches and 10 miles to Irvine and John Wayne Airport. Another Garden Grove popular area “Little Korea” runs east to west on Garden Grove Blvd. mainly between Brookhurst Street and Harbor Blvd.
This wonderful city is a great place to call home with all the nearby entertainment, eateries, festivals, and events.
The city has an array of home choices from single-family home to condos and townhomes, and manufactured homes. With this variety also comes a range in price. Home appreciation since 2008 to 2018, has been approximately 8% annually.
The median home price in southwestern Garden Grove zip code 92845 is $673,500. Yet that is still good news for home buyers, as it’s below the $726,525 FHA and conforming loan limits. This means borrowers may qualify for a 3.5-5% down financing.
Lake Forest
Average Sales Price: $604,834
Median Home Value: $718,900
Lake Forest is located off Lake Forest Drive and Bake Parkway, where the 5 and 405 freeways split going north
The city is full of young professionals, families, coffee shops, highly-rated public schools, and features over twenty-six public parks. Among them is the Regional Wilderness Park which offers a wide variety of outdoor recreation the entire year including hiking, jogging, swimming, biking, boating, and basketball.
Homeowners are very satisfied they live in a fun and safe area with low property taxes and varied architectural styles. For residents who live very close to the 5 freeway in Lake Forest or Mission Viejo, you can be in Irvine in 15-minutes or less as long if the brief stretch of freeway is not too congested.
Tustin
Median Home Value:$720,500 ** Zillow
Median Sales Price: $678,750 ** Trulia
Tustin is located north of Irvine and east of Santa Ana is referred to as the “City of Trees” thanks to the tree-lined streets seen throughout the city. The city has highly rated public schools in North Tustin and the foothills. Architecture tends to be Contemporary, Ranch, European, Tuscan, and Mediterranean styles.
Westminster
Average Sales Price: $604,834
Median Home Value: $660,700
Another leading city with an affordable home values compared to other OC cities, Westminster has a fairly stable housing market. It has many local conveniences. With its close proximity to the LA metropolitan area and Little Saigon, Westminster offers great fun for families.
Popular neighborhoods include Bishop Place, Boulevard Gardens, Civic Center, Del Prado Bolsa, Edinger, Garden Grove, Green Lantern Village, Huntington Manor, Midway City, North Huntington Center, Smeltzer,Windjammer, Westminster, Westminster Abbey, and The Pointe.
Although not as close to the 405 freeway, additional values and deals can be found in adjacent cities such as Cypress, La Palma, West Anaheim, and southern part of Buena Park.