California Housing Affordability Continues to Decline

Same old story: low inventory continues to drive up housing prices as affordability naturally sinks.

In the nine county Bay Area, 23 percent of households could afford to purchase the median-priced $860,000 home. This would require an annual income of $173,5000 for a monthly mortgage of $4,340.

However, after five years, the San Francisco metropolitan area is not longer the least-affordable market in the country with Los Angeles now taking “top” honors.

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