A California city boasting plentiful parks, low crime and a booming job market has become the hottest housing market in the US.

Irvine has seen its population soar in recent years, thanks to what many of its residents say is its superior standard of living.

Despite the city adding 35,000 new builds over the last 14 years, demand for housing continues to outpace supply. 

As a result, house prices have skyrocketed by more than 20 percent in the last year to a median of $1.56 million, the LA Times reports.

By comparison, the median house price for the US is significantly lower at $361,481. 

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

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

Since 2010, more than a third of the new homes built in California have shot up in Irvine.

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

However, its location as an employment hub for many companies means that even this is not enough to keep up with demand. 

The city has always been popular and began life as a series of villages developed around a new University of California campus in the 1960s.

Locals were drawn to the master-planned community in their droves, attracted by the plethora of recreational facilities and conveniently placed schools and stores.

Today Irvine is America's 63rd most populous city, attracting 13,000 new residents over the last three years.