Orange, California

In the city of Orange, California the house value median is $691,700. The value of houses has increased in Orange 5.8 percent in the last year. There has been a forecast made that the worth of houses will increase 5.8 percent the following year.

In Orange, the list cost per square foot median is $396. The Los Angeles-Long Beach-Anaheim Metro Area has a higher list cost per square foot average of $425.

$699,999 is the median cost of presently listed houses in Orange. $685,900 is the median cost of houses that have sold.
In Orange, California, the median rental cost is $2,800. The metro area of Los Angeles-Long Beach-Anaheim has a higher median rental cost of $3,100.

Foreclosures are a factor having an effect on home values. The lower the foreclosure rate, the higher the value of houses for any area of the country. For every 10,000 homes in Orange, 0.4 are foreclosed. The Metro Area has a higher foreclosure rate of 0.9 houses being foreclosed for every 10,000 houses. And the national foreclosure rate is even higher at 1.6 percent.

In the process of foreclosure, there is the first step that happens. It is called mortgage delinquency. This occurs when an homeowner misses making a payment on their mortgage for one or more months. In Orange, 0.7 percent of home mortgages are delinquent. In the USA, 1.6 percent of mortgages are delinquent.

The 2008 recession had a major negative impact on the value of housing in the USA. The worth of homes decreased by more than 20 percent.
From this recession, a great number of owners of homes are presently underwater regarding their mortgages. When a homeowner is underwater on their mortgage it means that they owe more on their mortgage debt than the worth of their home.

4.6 percent of homeowners in Orange are underwater with their mortgages. The metro area of Los Angeles-Long Beach-Anaheim has a higher rate of homeowners underwater with their mortgages, at 5.6 percent.

The annual median household income in Orange, CA is $79,192.