The California Association of Realtors reported in the fall that only 26 percent of the state’s households could afford a median-priced home, a drop of 2 percent over the past year.
A median-priced home in the Golden State is $383,320. Assuming a 20 percent down payment and a 5.39 percent interest rate, buyers need a minimum household income of $86,440 to afford a 30-year, fixed-rate mortgage.
Learn more about markets featured in this article: Los Angeles, CA.
