The Orange County Housing Task Force convened on May 29, 2025, to address the pressing housing affordability crisis in the region. The meeting highlighted alarming statistics regarding the local housing market, revealing a significant increase in median home prices and a sharp decline in available inventory.

Since February 2019, the median home price in Orange County has surged from just under $260,000 to approximately $430,000, marking a 65% increase. This rise has resulted in mortgage payments more than doubling, escalating from $1,170 to $2,641 per month. The inventory of homes for sale has plummeted by 51%, leaving only about a three-month supply of homes, which is far below what is considered a healthy market. As a result, the area is firmly in a seller's market, making it increasingly difficult for families to afford homes.

Task force members expressed concerns about the lack of detailed statistics regarding the types of homes sold, such as the number of bedrooms and bathrooms, which complicates the understanding of what buyers can expect at the median price point. One participant shared their personal experience of searching for a modest three-bedroom home, only to find prices starting around $430,000, with larger homes exceeding $500,000.

The discussion also touched on the concept of affordability, emphasizing that what is considered affordable varies greatly among individuals based on their unique financial situations. The median household income in Orange County is currently $458,000 per year, which translates to a monthly income of $7,864. According to national standards, housing costs should not exceed 30% of this income, equating to approximately $2,359. However, the current mortgage payment of $2,641 exceeds this threshold, highlighting a significant affordability gap.

To address these challenges, the task force underscored the importance of providing resources for potential homebuyers, including access to HUD-certified housing counselors and various grant programs aimed at assisting first-time buyers. These initiatives are designed to help navigate the complex home-buying process and alleviate some of the financial burdens associated with purchasing a home.

The meeting concluded with a commitment to gather more detailed data on housing options available at different price points, aiming to better inform the community about the realities of the current market and support families in their pursuit of homeownership.