LIVING IN ORANGE
Orange is a larger medium-sized city located in the state of California. With a population of 139,484 people and 28 constituent neighborhoods, Orange is the 41st largest community in California.
Housing costs in Orange are among some of the highest in the nation, although real estate prices here don't compare to real estate prices in the most expensive communities in California.
Unlike some cities, Orange isn’t mainly white- or blue-collar. Instead, the most prevalent occupations for people in Orange are a mix of both white- and blue-collar jobs. Overall, Orange is a city of sales and office workers, professionals, and managers. There are especially a lot of people living in Orange who work in office and administrative support (13.54%), sales jobs (11.22%), and management occupations (11.21%).
Also of interest is that Orange has more people living here who work in computers and math than 95% of the places in the US.
One thing that you will notice about Orange is that there is a good-sized population of people who are young, single, educated, and upwardly-mobile career starters. Many singles consider Orange a good place to live without being in a really big city, with opportunities for friendships and fun with others like themselves.
The citizens of Orange are very well educated compared to the average community in the nation: 36.50% of adults in Orange have a bachelor's degree or even advanced degree.
The per capita income in Orange in 2010 was $35,737, which is upper middle income relative to California and the nation. This equates to an annual income of $142,948 for a family of four. However, Orange contains both very wealthy and poor people as well.
Orange is an extremely ethnically-diverse city. The people who call Orange home describe themselves as belonging to a variety of racial and ethnic groups. The greatest number of Orange residents report their race to be White, followed by Asian. Orange also has a sizeable Hispanic population (people of Hispanic origin can be of any race). People of Hispanic or Latino origin account for 38.15% of the city’s residents. Important ancestries of people in Orange include German, Irish, English, Italian, and French.
Orange also has a high percentage of its population that was born in another country: 23.19%.
The most common language spoken in Orange is English. Other important languages spoken here include Spanish and Vietnamese.
ORANGE HOUSING MARKET INFORMATION
With a population of 139,484, 42,969 total housing units (homes and apartments), and a median house value of $723,183, real estate costs in Orange are among some of the highest in the nation, although house prices here don't compare to real estate prices in the most expensive California communities.
Single-family detached homes are the single most common housing type in Orange, accounting for 55.89% of the city's housing units. Other types of housing that are prevalent in Orange include large apartment complexes or high rise apartments ( 20.43%), duplexes, homes converted to apartments or other small apartment buildings ( 11.89%), and a few row houses and other attached homes ( 9.27%).
The most prevalent building size and type in Orange are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 54.45% owning and 45.55% renting.
There is a lot of housing in Orange built from 1970 to 1999 so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in Orange built between 1940-1969 ( 40.02%). A lesser amount of the housing stock also hails from between 2000 and later ( 8.24%). There's also some housing in Orange built before 1939 ( 6.04%).
ORANGE HOME APPRECIATION RATES
In the last 10 years, Orange has experienced some of the highest home appreciation rates of any community in the nation. Orange real estate appreciated 61.24% over the last ten years, which is an average annual home appreciation rate of 4.89%, putting Orange in the top 20% nationally for real estate appreciation. If you are a home buyer or real estate investor, Orange definitely has a track record of being one of the best long term real estate investments in America through the last ten years.
Over the last year, Orange appreciation rates have trailed the rest of the nation. In the last twelve months, Orange's appreciation rate has been 3.77%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Orange were at 1.28%, which equates to an annual appreciation rate of 5.23%.
Relative to California, our data show that Orange's latest annual appreciation rate is lower than 50% of the other cities and towns in California.
One very important thing to keep in mind is that these are average appreciation rates for the city. Individual neighborhoods within Orange differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Orange - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 2000, to assist you in making the best Orange real estate investment or home purchase decisions.
Reasons To Invest
- Popular Tourist Destination
- Increasing Rental Demand
- High Appreciation Rates
- Population Growth
- Growing Job Market
- Ethnically-Diverse City
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