Orange County is a dynamic area considered to be a part of the Los Angeles metropolitan area. Home to both Disneyland and gorgeous beaches, personality, charm, events, and character makes Orange County stand out amongst others. It’s no wonder that housing prices have steadily risen over the past few years, now at a median price of $718,000. However, there are still some appealing, secure and affordable neighborhoods for both renting and buying a home even as a first-timer. If you’re considering relocating to Orange County, here are five most affordable neighborhoods you may not have previously viewed as excellent places to live in Orange County.
1. La Palma
If you appreciate a secure, small-town feeling, consider buying or leasing a house in La Palma. Although located in the outskirt of Orange County, the city provides everything residents need with many community activitiesthroughout the year. Because many of La Palma's residential buildings were built decades ago, there is a massive transformation in terms of renovation.
Because Las Palma is a small community, it is important tokeep an eye out if you’re interested in that area, because properties tend to go fast. The average selling price of homes in La Palma is around $678,333, while the average rent for an apartmentis $1,826.
2. Aliso Viejo
Aliso Viejo is a suburb of Los Angeles with a population of 50,691. Aliso Viejo is in a middle-income suburb in Orange County with one of the lowest crime rates. It’s located almost equidistantly between Los Angeles and San Diego.
The area boasts high-performing high schools and great public amenities including a 3900 acre wildlife sanctuary.There is a moderate cultural diversity, despite its lower socioeconomic diversity. Living in Aliso Viejo offers residents an urban feel, and most residents own their homes. With recently built homes/apartments featuring modern architecture and plenty of roomfor sale or rent, Aliso Viejo has the potential of becoming a real estate hotspot, considering that neighboring Mission Viejo has homes going for nearly $1 million. The average cost of home in Aliso Viejo is $610,800.
Stanton is a fast-rising community in Orange County that has undergone several infrastructural upgrades and a high rate of renovationwithin the last few years. It currently boasts of several family-themed recreation parks such as the Veterans Memorial Park, Pocket Park, and Harry M. Dotson Park. Stanton is an excellent choice for individuals seeking a serene, affordable and progressive community.
One of Stanton’s unique selling points is its proximity to Anaheim and the prices of homes whichare significantly lower than its surroundingneighbors. Over the past years, Stanton real estate market has seen a significant gain. For individuals seeking to purchase or lease a home in Orange County, the Stanton is an area to get in before everything is taken.The median home value in Stanton is $498,787, while the average rent for an apartment goes for $1,754.
4. Garden Grove
If you are a fan of affordable homes with spacious rooms and yards, then renting or buying a home in Garden Grove is your best bet. Garden Grove is mostly known within the Ocean County community for its diversity in terms of residents and food, with Hispanic, Cambodian, Laotian, and Korean populations. One unique aspect about this bustling neighborhood is the welfare provision it offers its residents such as residents employment assistance, educational programs, recreational programs, and family entertainment, as well as the highest number of churches and places of worship per capita in California, including the world-famous Crystal Cathedral.Also, the average rent for an apartment in Garden Grove is $1,748, a 10% increase compared to the previous year, when the average rent was $1,594.
5. Santa Ana
The city of Santa Ana continues to evolve and transform with a rise in the number of real estate and micro-communities. The largest yet also the most walkable cities in Orange County, it is widely known for its historic neighborhoods like the Floral Park, Washington Square, and Historic French Park, coupled with spacious apartment buildings, clean streets, vintage lampposts, and hipster/artist neighborhoods. Santa Ana is an excellent spot for first-time buyers/renters with little or no knowledge of the real estate market.With the median home cost in Santa Ana at $563,700 and an average apartment rent of $1932, Santa Ana is an affordable place to start your apartment/home search.
Now that you know the top 5 most affordable places to buy/rent in Orange County, it’s time to start your home search!For more information on any of the cities and the most affordable Orange County real estate, contact us at Utopia Management. With hundreds of agents across Southern California, we've got local experts in all areas ready to help you find the right home/apartment to fit your budget. Call or email us, and we'll connect you with a top agent to guide you through the home buying or apartment renting process with ease.
Peter Evering, a property management and real estate expert, is the Business Development Manager of Utopia Management. With a hands-on presence throughout California and Nevada, Utopia Management has been providing professional rental property services since 1994, at some of the lowest rates available.