C.A.R. analysis finds significant disparity between home prices and what buyers can truly afford
– Only seven of 32 reporting counties in California had a home price that a typical median-income household in the counties can afford.
– Less than one-third of the state’s housing inventory was at or below the home price a typical household earning the median income can afford.
– San Francisco’s second quarter median home price was 225 percent higher than what a typical median-income household in that county can purchase.
Only seven of California’s counties are affordable to home buyers who earn the areas’ median household income, while homes in 25 counties were out of reach for the typical household, according to analysis by the CALIFORNIA ASSOCIATION OF REALTORS® (C.A.R.). Furthermore, less than a third of the state’s inventory of available single-family homes, condominiums, and townhomes for sale was at or below the home price that a household earning the California median income of $60,244 can afford.