Only 19% of California households can afford a median-priced home
According to California Association of Realtors figures, only 19% of California households could afford a median-priced existing single-family home in the third quarter, unchanged from the previous quarter and a year earlier. Buying requires a minimum annual income of $228,000 and a monthly payment of $5,700, more than double the national average of $2,760. In Orange County, a typical home costs $1.47 million and requires an income of $374,400.
In 35 seconds
- 19% of California households could afford a median-priced home in the third quarter, unchanged from the prior quarter and a year earlier
- $228,000 in annual income and a $5,700 monthly payment are needed to buy
- The monthly payment in California is more than double the national average of $2,760
Read the full story at New York Post
IASummary generated by artificial intelligence from a story by New York Post. It may contain errors: the original source prevails.
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