Sunny city with low crime, numerous parks and a booming job market now has America's hottest real estate market

A California city with numerous parks, low crime and a booming job market has become the hottest real estate market in the United States.

Irvine's population has grown rapidly in recent years, which many residents say is due to the higher standard of living.

Although 35,000 new homes have been built in the city over the past 14 years, demand for housing continues to exceed supply.

As a result, home prices have risen more than 20 percent over the past year to a median of $1.56 million. The LA Times reports.

In comparison, the median home price in the United States is significantly lower at $361,481.

Irvine resident Kim Pohas revealed how she made a $178,000 profit on her condo within a year of purchasing it.

“It's like I renovated a house but didn't do anything to it,” Pohas, 40, told the LA Times. “It's a brand new building. I just lived there.”

Since 2010, over a third of all new homes built in California have been in Irvine.

A new residential development in Great Park, the site of a former naval air base

However, due to the location of the site as an employment location, even this number is not enough for many companies to meet demand.

The city has always enjoyed great popularity and was formed in the 1960s from a series of villages that developed around a new campus of the University of California.

Locals flocked to the planned community, attracted by the abundance of recreational facilities and the convenient location of schools and shops.

Today, Irvine is the 63rd most populous city in America and has attracted 13,000 new residents in the last three years.

Although 35,000 new buildings have been built in the city in the last 14 years, demand for housing continues to exceed supply

Despite rapid population growth, it remains a relatively safe place to live.

According to officials, FBI data showed that Irvine was the safest city in America for violent crime last year for the 18th consecutive year.

However, according to a study by RealtyHop, Irvine is also the third most expensive city in the USA.

Average-income families in Orange County would have to pay 85 percent of the cost of their home.

In addition to the mortgage, there are high property taxes and insurance.

This has resulted in some buyers being priced out of the market, particularly those looking to upgrade their home and finding that the proceeds from selling a home are not enough for a significant move up the property ladder.

Among them is 37-year-old Jonathan Sun, who wants to move into a larger apartment with his wife and two children, but with their budget of $2.7 million, they cannot get much more than the 200 square meters they currently live in.

“We could probably sell and move north or south to Orange County and get exactly what we want, but it's our decision to stay,” Sun said.

Home prices have risen more than 20 percent in the past year to an average of $1.56 million.

Irvine's proximity to the beach and a chic new $2 billion shopping center still make the city an attractive destination.

Additionally, the city was ranked the third best place in the U.S. to raise a family in a study by Wallethub.

The study cited the low crime rate and highly rated schools as reasons.

“It's such a clean, safe city that still has room for more housing and jobs,” said John Burns, managing director of Irvine-based John Burns Real Estate Consulting.

“There’s nothing like this anywhere else in Southern California.”