Irvine is considered one of the cities with high income in Orange County. According to the 2023 American Community Survey (ACS), the median household income in Irvine is about $120,000.

Here, the Census ACS refers to the statistics that survey and publish data on population, income, housing types, and more every year.

Another important term to know is 'Median Household Income.' This is slightly different from average income.

If we assume there are 100 households in Irvine, it is easy to think of the income of the household that is exactly in the middle when arranged in order of income.

Compared to the national median household income of about $78,000 at that time, Irvine's $120,000 is quite high.

So, why are there so many high earners in Irvine?

First, the job structure is different. Many companies in the fields of biotech, medical devices, semiconductors, software, finance, and law are concentrated around the large university, UC Irvine (UCI). In simple terms, it means that there are many professionals with relatively high salaries, such as engineers, researchers, doctors, lawyers, and financial experts, rather than factories or simple service jobs.

In Irvine and the surrounding areas, there are also headquarters or major offices of large corporations and tech companies like Broadcom and Edwards Lifesciences.

Among the professionals and managers working at these companies, many earn over $100,000, and in dual-income households where both spouses work, it is not uncommon to see household incomes exceeding $200,000.

However, just because the income is high does not mean that living in Irvine is easy. The biggest reason is housing prices.

The price of single-family homes in Irvine often exceeds $1.3 million to $1.6 million, depending on the area and condition of the house. Even without converting to Korean won, it is a quite expensive housing market in the U.S. If you think about a household with an annual income of $120,000 buying a $1.5 million house, it is easy to understand why the burden is significant.

Renting a two-bedroom apartment or condo typically costs around $3,000 to $4,000 per month, and newly built luxury apartments can demand even more.

Here, '2 Bedroom' in the U.S. refers to a layout with two bedrooms, a separate living room, and kitchen.

Another characteristic of Irvine is its large Asian population. You can easily meet residents of Chinese, Korean, and Indian descent, and among them, there are also many professionals and dual-income families. The convenience of accessing Korean markets, Asian restaurants, and tutoring centers is one reason why Koreans prefer Irvine.

When describing Irvine, the terms 'Planned City' or 'Master-Planned Community' often come up. In simple terms, it means that it is a city developed with pre-planned housing complexes, schools, parks, shopping centers, and roads, rather than a city built haphazardly.

So, when you actually walk around Irvine, you will find that residential areas and commercial zones are relatively well-defined, and there are many parks and walking paths well developed. This is also why families with children who value school districts and living environments prefer Irvine.

Ultimately, Irvine is not a place that can be simply viewed as 'a rich neighborhood, so it's comfortable to live in.'

It is true that many high-income individuals live there, but housing prices and rents are high as well. While an annual salary of $100,000 may feel like a good income in other parts of the U.S., in Irvine, after paying for housing and living expenses, it may not be as comfortable as one might think.

If you are considering moving to Irvine, it is much more important to calculate how much is left after deducting taxes, rent or mortgage, car expenses, and child education costs from your expected salary, rather than just looking at the average income.

Irvine certainly has the conditions to be considered a great place to live. However, it is also important to keep in mind that it is a city where the costs associated with enjoying a good environment are high.