University Town Center median real estate price is $1,094,448, which is more expensive than 64.0% of the neighborhoods in California and 91.2% of the neighborhoods in the U.S.
The average rental price in University Town Center is currently $4,118, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 75.5% of the neighborhoods in California.
University Town Center is an urban neighborhood (based on population density) located in Irvine, California.
University Town Center real estate is primarily made up of small (studio to two bedroom) to medium sized (three or four bedroom) apartment complexes/high-rise apartments and townhomes. Most of the residential real estate is renter occupied. Many of the residences in the University Town Center neighborhood are established but not old, having been built between 1970 and 1999. A number of residences were also built between 1940 and 1969.
University Town Center has a 14.1% vacancy rate, which is well above average compared to other U.S. neighborhoods (higher than 75.8% of American neighborhoods). Most vacant housing here is vacant year round. This could either signal that there is a weak demand for real estate in the neighborhood or that large amount of new housing has been built and not yet occupied. Either way, if you live here, you may find many of the homes or apartments are empty.
Many things matter about a neighborhood, but the first thing most people notice is the way a neighborhood looks and its particular character. For example, one might notice whether the buildings all date from a certain time period or whether shop signs are in multiple languages. This particular neighborhood in Irvine, the University Town Center neighborhood, has some outstanding things about the way it looks and its way of life that are worth highlighting.
People
An extraordinary 33.1% of the residents of the University Town Center neighborhood are currently enrolled in college. This is such a large part of life in this neighborhood that the neighborhood changes a great deal with the change of semesters and is far quieter during the summer when many students are away.
In addition, one of the really interesting characteristics about the University Town Center neighborhood is that, according to NeighborhoodScout's exclusive research, it is an excellent choice in which to reside for college students. Due to its popularity among college students who already choose to live here, its walkability, and its above average safety from crime, the neighborhood is ideal for prospective or already-enrolled college students. Between semesters and during school breaks, you'll notice that the excitement here fluctuates with the college seasons. Despite the excitement however, parents of college-age children can rest easy knowing that this neighborhood has an above average safety rating. For each of these reasons, the neighborhood is rated among the top 2.7% of college-friendly places to live in the state of California. In addition to being an excellent choice for college students, this neighborhood is also a very good choice for young, single professionals.
Real Estate
Most neighborhoods are composed of a mixture of ages of homes, but the University Town Center stands out as rather unique in having nearly all of its residential real estate built in one time period, namely between 1970 and 1999, generally considered to be established, but not old housing. What you'll sense when you look around or drive the streets of this neighborhood is that many of the residences look the same because of this similarity of age. In fact, 91.5% of the residential real estate here was built in this one time period.
In addition, if you love row houses and attached homes, you will probably really like the University Town Center neighborhood. The ambiance, the charm, of row houses is something special. And in sheer abundance of row houses, this neighborhood truly stands out. The real estate here has a higher proportion of row houses and attached homes than nearly any neighborhood in America. In fact, 29.9% of the residential real estate here is classified as row houses and attached homes.
Furthermore, 88.8% of the real estate in the University Town Center neighborhood is occupied by renters, which is nearly the highest rate of renter occupancy of any neighborhood in America.
Also of note, the University Town Center neighborhood is very unique in that it has one of the highest proportions of one, two, or no bedroom real estate of any neighborhood in America. Most neighborhoods have a mixture of home or apartment sizes from small to large, but here the concentration of studios and other small living spaces is at near-record heights. With 82.3% of the real estate here of this small size, this most assuredly is a notable feature that makes this neighborhood unique, along with just a handful of other neighborhoods in the U.S. that share this characteristic.
Modes of Transportation
More people in University Town Center choose to walk to work each day (18.1%) than almost any neighborhood in America. If you are attracted to the idea of being able to walk to work, this neighborhood could be a good choice.
Diversity
Did you know that the University Town Center neighborhood has more Yugoslav and Asian ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 1.9% of this neighborhood's residents have Yugoslav ancestry and 48.1% have Asian ancestry.
University Town Center is also pretty special linguistically. Significantly, 3.2% of its residents five years old and above primarily speak Persian at home. While this may seem like a small percentage, it is higher than 99.6% of the neighborhoods in America.
Migration / Stability
Some neighborhoods have more internal cohesiveness than others. While other neighborhoods feel like a collection of strangers who just happen to live near each other. Sometimes this comes down to not only the personalities of the people in a place, but how long people have been together in that neighborhood. NeighborhoodScout's research has revealed some interesting things about the rootedness of people in the University Town Center neighborhood. In the University Town Center neighborhood, a greater proportion of the residents living here today did not live here five years ago than is found in 95.9% of U.S. Neighborhoods. This neighborhood, more than almost any other in America, has new residents from other areas.
There are two complementary measures for understanding the income of a neighborhood's residents: the average and the extremes. While a neighborhood may be relatively wealthy overall, it is equally important to understand the rate of people - particularly children - who are living at or below the federal poverty line, which is extremely low income. Some neighborhoods with a lower average income may actually have a lower childhood poverty rate than another with a higher average income, and this helps us understand the conditions and character of a neighborhood.
The neighbors in the University Town Center neighborhood in Irvine are middle-income, making it a moderate income neighborhood. NeighborhoodScout's exclusive analysis reveals that this neighborhood has a higher income than 48.4% of the neighborhoods in America. In addition, 5.5% of the children seventeen and under living in this neighborhood are living below the federal poverty line, which is a lower rate of childhood poverty than is found in 63.1% of America's neighborhoods.
The old saying "you are what you eat" is true. But it is also true that you are what you do for a living. The types of occupations your neighbors have shape their character, and together as a group, their collective occupations shape the culture of a place.
In the University Town Center neighborhood, 54.4% of the working population is employed in executive, management, and professional occupations. The second most important occupational group in this neighborhood is sales and service jobs, from major sales accounts, to working in fast food restaurants, with 21.7% of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations (12.8%), and 11.1% in manufacturing and laborer occupations.
Languages
The languages spoken by people in this neighborhood are diverse. These are tabulated as the languages people preferentially speak when they are at home with their families. The most common language spoken in the University Town Center neighborhood is English, spoken by 43.7% of households. Other important languages spoken here include Chinese, Spanish, Vietnamese and Korean.
Ethnicity / Ancestry
Culture is the shared learned behavior of peoples. Undeniably, different ethnicities and ancestries have different cultural traditions, and as a result, neighborhoods with concentrations of residents of one or another ethnicities or ancestries will express those cultures. It is what makes the North End in Boston so fun to visit for the Italian restaurants, bakeries, culture, and charm, and similarly, why people enjoy visiting Chinatown in San Francisco.
In the University Town Center neighborhood in Irvine, CA, residents most commonly identify their ethnicity or ancestry as Asian (48.1%). There are also a number of people of Mexican ancestry (12.7%), and residents who report English roots (9.5%), and some of the residents are also of German ancestry (6.2%), along with some Arab ancestry residents (3.5%), among others. In addition, 33.6% of the residents of this neighborhood were born in another country.
Even if your neighborhood is walkable, you may still have to drive to your place of work. Some neighborhoods are located where many can get to work in just a few minutes, while others are located such that most residents have a long and arduous commute. The greatest number of commuters in University Town Center neighborhood spend between 15 and 30 minutes commuting one-way to work (36.7% of working residents), which is shorter than the time spent commuting to work for most Americans.
Here most residents (46.6%) drive alone in a private automobile to get to work. In addition, quite a number also hop out the door and walk to work to get to work (18.1%) and 9.8% of residents also carpool with coworkers, friends, or neighbors for their daily commute. In a neighborhood like this, as in most of the nation, many residents find owning a car useful for getting to work.
