Rental Statistics | Average Rent in Irvine

Figuring out the average rent in Irvine is important if you’re moving there for the first time! It might also be a good refresher if you’ve already lived there for a while and are looking for a new place. 

The city of Irvine consistently ranks in the top safest and most sought after cities to live in America. Its location, attractions, and thriving economy make it a hotspot for young professionals and students alike. If you are thinking about making the move to Irvine, whether its to go to UCI or to start a new job, here’s all you need to know about rent, location, and expenses in order to ensure you make the best choice for your apartment.

Average Rent in Irvine

Irvine is a high-demand location when it comes to housing. Apartment complexes and high-rises have become the most common housing type in the city. The average rent in Irvine is about $1,000 higher than the US national average. According to Rent Jungle, rent averaged $2,433 as of June 2020 compared to the national average of $1,474 from the end of 2019. 

Location

Determining your ideal location is a great starting-point when on the hunt for a new apartment. If you already have a job or are going to school, you will want to find a place that both suits you and is conveniently located for a short commute. If you are a student attending UCI, you may want to prioritize apartments within walking distance of campus. Check out our article about how to find an apartment near UCI for more information.

Budgeting and Rent

Irvine has a lot to offer, beautiful scenery, a plethora of outdoor activities and is only 20 minutes away from Laguna and Newport Beaches. This comes at a cost though. With Irvine’s monthly apartment rent averaging almost a thousand dollars more than the national average, securing a place that is both affordable and financially sustainable can be difficult.

If you’re looking to get your own place, the average rent for a studio apartment in Irvine is $1,908. If you want more space, a one-bedroom apartment rents for $1,962 a month.

If you’re willing to have roommates, you’ll have the benefit of extra space without paying as much as if you had a one-bedroom. If you and a roommate get a two-bedroom, the total rent is $2,669, so each of you would pay around $1,334.

The average rent for three-bedroom apartments is over $5000, meaning you would be paying about $1,666 for your room. Aside from rent, utilities and amenities are not always included with rent. This can easily drive up your expenses, so it’s important to budget carefully.

The general rule of thumb is to use “The 30% Rule” when deciding your budget, meaning 30% of your income should be put towards rent.

However, rent will not be your only housing expense. You should ask landlords about average utility costs, additional fees for amenities, and parking costs. If you don’t already have furniture or you don’t want to transport it to Irvine, you’ll have to buy some for your new apartment which can add up quickly. Check out our How to Budget article for more tips.

Consider Co-Living

There are many benefits to co-living, like having a shared community while still enjoying the privacy of your own room. Tripalink has several co-living apartments in Irvine, and many of them are only 10 minutes from UCI!

Tripalink’s units are secure, fully furnished, and equipped with up-to-date appliances. So whether you are a student or a young professional, co-living allows for a safe, unique, and sustainable living experience.

Tripalink’s rent ranges from $975-$1,398 with all utilities included, saving you from worrying about any additional costs.