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An appreciation-lean market without the demand pressure to back it. The rent math runs thin.
What would change this read: a price correction (median already −3.2% YoY) or rent growth lifting rent-to-price toward 0.8%/mo would move this ZIP toward a cash-flow story. inventory, −8.4% YoY, is the number to watch.
The median listing price is down 3.2% YoY while the median home got down 3.9% bigger, so value per square foot is down 2.3%.
Min/max come from the active-listing pool; the median comes from Realtor's separate listing set — the two are not subsets of each other, so the median's position relative to the tiles above should not be read literally.
At the median, a $1.68M purchase rents for $3,595/mo: 0.21% of price per month against the 1% rule's 1.00%.
Not shown: Studio (rent only, no matching sale price), 6 BR (sale only, no matching rent), 7 BR (sale only, no matching rent), 8 BR (sale only, no matching rent).
Sales here take about 42 days longer to go under contract than rentals (median across 4 property types).
Not shown: Apartment (rented here, not sold), Land (sold here, not rented), Manufactured (sold here, not rented).
U.S. Census ACS characteristics for ZIP 92648 itself, not its parent county.
Renters hold 54.5% of this ZIP's 20,469 occupied households, on a median household income of $130K.
| Measure | ZIP 92648 | Orange County | Difference |
|---|---|---|---|
| Median Household Income | $130K | $116K | +$14K |
| Below Poverty Level | 6.3% | 9.5% | -3.2% |
| Median Age | 44.50 | 39.40 | +5.10 |
| Total Population | 45,827 | 3,165,820 | -- |
| Avg Household Size | 2.22 | 2.87 | -0.65 |
| Owner-Occupied | 45.5% | 56.4% | -10.9% |
| Worked From Home | 25.8% | 18.5% | +7.3% |
| Mean Commute | 28.80 | 26.70 | +2.10 |
Higher or lower is not itself good or bad — it describes the neighborhood, not the investment.
ZIP-level figures come from ZIP Code Tabulation Areas, which approximate but do not exactly match USPS ZIP codes. A missing value is suppressed or unavailable at this sample size, not zero. Estimates for 2019–2020 use the 2010 ZCTA boundaries and 2021–2024 the 2020 ones, so a step between those two years may be a boundary change rather than real movement.
County population is up 0.1% to 3,165,820: residents under 18 are down 1.4% and those 65 and over are up 3.2%.
County median household income is $116K, 9.5% of residents are below the poverty level, 18.5% work from home.