UCI

The number who think a home in Orange County is a favorable investment is up 10 points among homeowners since last year, and 20 points in two years. Homeowners are the most optimistic about owning an Orange County home as an investment since we began asking the question in 1993. Graph: Orange County Home as an Investment: Owners

Among renters, the number who consider buying a house in Orange County to be an excellent or good investment has risen 11 points since last year, while the number who consider it a bad one is down 8 points. In just two years, the positive ratings have climbed 15 points, while poor scores are down by 16 points. Renters' confidence in the Orange County housing market is now slightly above what it was in 1993 (53%).

The median monthly mortgage payment is $948 this year, and the median monthly rent is $735. Sixty-three percent of homeowners and 48 percent of renters pay more than $750 a month for their housing. For this study, renters are broadly defined as those renting apartments, attached homes, mobile homes or single-family homes. Graph: Orange County Home as an Investment: Renters

Mortgages are down slightly from last year's median of $960, but still above the level reported previously. The proportion of homeowners paying more than $750 is about the same as last year (63% to 64%) and the previous four years. Rents are up from the 1996 median of $713. This is the first year since 1994 that rental payments show an increase. Also, the number of renters paying more than $750 is at a slightly higher level than last year (48% to 44%) although within a range seen for most of the 1990s.
Graph: Trends in Monthly Housing Payments
with payments more than $750 per month

South County remains the most expensive region. Thirty-one percent of South County homeowners pay over $1,500 a month in mortgage, in contrast to 17 percent of owners elsewhere. Thirty-one percent of South County renters pay more than $1,000, compared with 15 percent of renters elsewhere.