![]() The number of first-time home buyers has fallen roughly 40% in the last ten years. With home prices climbing, the average minimum income needed to afford a first home is approximately $102,000. Venture capital funding businesses continues to grow, with over 17% growth shown in the last ten years. It is the 2nd most diverse high-tech economy in the country. Orange County remains one of the top locations for growth of technology-based employment, with higher than the national average of employees in 15 of 19 tech industries. Homeownership, however, is less than the national average of 63.9%, at 57.4%.Ĭost of living in Orange County is 87% higher than the national average. In 2017 the median property value in Orange County was $679,400 this is 3.12 times the national average of $217,600. Professional, scientific, management, administrative, and wast management make up the highest employing industries. It is one of California’s fastest growing cities and a hub for technology. The city of Irvine is a completely planned city with over 100 global corporations. Farther North, Huntington Beach, known as “Surf City,” is the location for the US Open of Surfing as well as other major surf competitions. Newport and Laguna beaches are world-famous not only for the pristine beach, but for the art, shopping, and wineries. For over 25 years it was the largest wine producing city in California. Job growth in the region, attributed to Disneyland, has grown at 7.2% yearly the region’s average job growth otherwise is 2.3%.Īnaheim, CA was originally set up by German immigrants in 1857. However, even though real estate is typically more expensive than national averages, there are plenty of up and coming and affordable neighborhoods in Orange County to own rental property, such as Buena Park, La Habra, and Santa Ana.ĭisneyland, in Anaheim, generates an estimated $8.5 billion in economic activity. It’s true that some of the most expensive and luxurious properties in California are here. This county boasts an extremely broad range of high end to transitional urban and suburban neighborhoods. As a matter of fact, Little Saigon has more Vietnamese people residing in it than any other location outside of Vietnam. This leads to a reputation of incredible and authentic ethnic dining opportunities including Korean, Chinese, and Vietnamese. Orange County has an incredibly diverse population, with 34% Latino, 20% Asian, 14% other races, 2% African American. Newport Beach’s The Wedge is one of the most popular surfing hotspots worldwide. Surfing and surf culture is immensely popular several competitions held every year. MLB’s Los Angeles Angels play in Anaheim, as well as NHL’s Anaheim Ducks. It’s a popular tourist destination, known for beaches, Disneyland, and Knott’s Berry Farm. ![]() Homeownership reported at a low of 57% that is expected to stay flat for at least 5 years.Ĭonsidered a suburb of Los Angeles, Orange County is the 3rd most populous county in California. The renter turnover rate has declined since 2010 and was at 17.8% in 2017, the most recently reported Census year. We handle all details of rental property oversight so your investment can be worry-free and profitable, including marketing, rent collection, tenant screening, maintenance and repairs, lease execution, and evictions. Our property managers are licensed and local to the area and understand the market trends and neighborhoods here. ![]() We work with a variety of properties, including single homes and condos, large and small apartment complexes, and office and industrial parks. Investors and owners with portfolios of all sizes in Orange County rely on us for the daily supervision, leasing, and maintenance of their properties in order to maximize return on their investment. Our combination of experienced, licensed, and local staff, along with the latest tech and methodologies enable our range of services to remain the most affordable effective solution for rental investment owners. Trusted for over 25 years to oversee full-service property management services for scores of profitable rental properties, Utopia Management is well established in Orange County as a real estate market expert. ![]()
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