Orange City Market Information
Orange City has become one of the most livable cities in Volusia City promising ample job opportunities to its 11,127 residents on account of its high population growth rate.
Between 2015 to 2016, the population grew at a rate of 0.94%. The city has a job environment with around 4,274 stable jobs and an annual growth rate of least 5.32%.
Much of the city’s population specializes in real estate, transportation and warehousing, construction, and rental and leasing. The local healthcare and social assistance sectors employ the most number of people with 740 currently in the workforce. The retail and trade sector comes second at 598, and accommodation and food service with 447.
In terms of median salaries, the highest paying jobs are found in Transportation and Warehousing ($58,624), Professional, Scientific, Tech Services ($40,500), and Finance and Insurance ($40,455).
Orange City has a median annual income that’s lesser than the United States’. Its median annual income is at $34,374 median while the U.S has a total of $55,322. Nevertheless, Orange City maintains a high employment rate. From 2015 to 2016, the workforce grew from 4,058 to 4,274 employees.
The average male salary is $50,308 while the average female salary is $36,824. Full-time male employees make 1.37 times more than female employees. However, Orange City has lower income inequality at 0.418 relative to national averages.
The unemployment rate for the city is pegged at 5.1% compared to the national average which is 5.2%. Even so, the job market increased by 1.6% in 2017.
Housing and Living
The homeownership rate of Orange City is 45.9% with a median property value of $79,100.
The median property value of Orange City Florida is 0.39x smaller than the national average of $205,000. From 2015-2016, the median property value increased by 14.1%. From $69,300, it became $79,100 within a year.
Orange City Historical Sites and Events
In 1882, the city was named for the orange groves that populated the area.
The Macaya and Jororo Indians
The Macaya and Jororo Indians were the first inhabitants in the areas. Disease and war caused the native population to dwindle. Eventually, it was rendered extinct by 1820.
The Thursby House
Built in the 1850s, the Thursby House is the first permanent home in the section of Volusia County. It is located on the east side of Blue Spring Run.
The First Hotel
A hotel was built in the summer of 1875 by Hugh and Sophia DeYarman. Now the 1876 Heritage Inn, the property is still accepting guests.
Orange City Elementary School
The first public school in Orange City was established in 1876 by Major George J.Alden.
Women’s Christian Temperance Union
Local members of the Women’s Christian Temperance Union (WCTU) worked towards improving the community beginning 1882. The members of WCTU would later join the Village Improvement Association.
John D. Rockefeller Sr
During the St. Louis Exposition in 1904, Orange City earned “the highest award” for its water. Moreover, John D. Rockefeller Sr. was said to have ordered Orange City Mineral Springs to supply water for his personal use.
Dickinson Memorial Library
On December 17, 1919, Albert Dickinson dedicated the Dickinson Memorial Library to Orange City in memory of his sister, Melissa. The library is surrounded by a scenic park where community events are held.
Orange City Town Hall
Mayor Edward B. Alling commisioned the New Town Hall in 1928. The New England-style building was designed by Elton J. Moughton and cost $20,000. In 2002, It was added to the National Register of Historic Places.
Click the link for more: https://youtu.be/gfNdeCVB-IQ
Orange City Insurance Market Information
Home Ownership in Orange City
Statistics from Data USA show that in 2015, the housing unit rates occupied by their homeowners in Orange City was 45.1%. The percentage grew in 2016 to 45.9%.
The homeownership percentage of Orange City in the 2016 survey is lower than the state average with 64.8% and the national average rate of 63.6%.
The chart below provided by Data USA shows a comparative analysis of the homeownership percentage rate of Orange City for the year 2016.
United States – 63.6%
Florida – 64.8%
Volusia County, FL – 69.6%
Orange City – 45.9%
Deltona-Daytona Beach-Ormond Beach, FL – 70.8%
DeLand, DeBary Cities & Pierson Town PUMA, FL – 69.7%
Home Insurance Analysis
According to an analysis by vHome Insurance, Orange City homeowner’s insurance is said to range roughly from $947 up to $1,296, at a monthly rate between $78 and $108. Consumers can save up to $448 by getting quotes.
Orange City, FL Homeowners Insurance by Home Value
Orange City, FL Home Insurance Savings for Senior Occupied Homes
Home Insurance as a Percentage of Housing Cost
Mortgage accounts for 7.9% of housing costs in Orange City. The city has the second highest percentages among four other places in Volusia County. Lake Helen has the highest percentage rate with 7.46%. DeBary-Orange City with 7.06% ranks third and while DeBary is fourth with 6.47%.
In terms of housing costs for homes without a mortgage, Orange City still ranks second at 22.6%. Lake Helen with 22.9% has the highest percentage rate. DeBary-Orange City with 21.93% ranks third and DeBary with 18.98% has the lowest percentage.
Orange City Renters Insurance as a Percentage of Rent
Deductible Scenario in Orange City Home Insurance Costs
Orange City Home Insurance Costs With Home Replacement Value Scenarios
The graph below shows a distributed series of car ownership data buckets per household in Orange City in 2016. The statistics of each data bucket is compared to the national averages.
The largest share of households with two cars is pegged at 48.2%. Single car households have a 32.3% share, while 3-car households for 14%.
Car Insurance Discounts for Multiple Vehicles
The data below by uAuto Insurance for Orange City shows the insurance discounts for owning multiple cars:
Orange City, FL Auto and Home Insurance Bundling Discounts
The table below shows comparative data by vHome Insurance on insurance discounts for owning multiple vehicles.
According to the 2015 Small Business Profile, there were over 2.2 million small businesses in Florida. Small businesses without employees (nonemployers) have higher establishment growth than small businesses with employees.
Orange City has an environment that fits the needs of businesses to grow. This is due to the availability of infrastructure and basic utilities such as water, high-speed internet access, as well as reasonable energy costs. For these reasons, the city issues over 100 business licenses each year.
In a 2015 analysis by NerdWallet, Orange City is ranked among the ten best places in Florida to start a business.
Orange City is one of the areas in the U.S that has the lowest risk of possible flood damage. Moreover, there was approximately $51,921,162 in taxable property value within the 100-year of floodplain which is below the jurisdiction average of $318,247,047, according to the Volusia County Integrated Floodplain Management Plan,
At least 12.7% of the city’s total parcels are valued at over $1,000,000, which has increased the city’s total financial liability.
Below is the Orange City Floodplain Profile from the Volusia County Integrated Floodplain Management Plan in:
The financial value analysis of all parcels within the 100-year Volusia County floodplain revealed that roughly $9 billion in property value is partially or completely covered. At least 46.39% of the parcels were considered as “low value” parcels while the 1.22% were valued over a million dollars.
Below is the chart of the total financial exposure of Orange City within the 100-year floodplain in Volusia County: