Housing Affordability Index – Percentage of households who can afford to buy a median-priced home. California housing affordability dipped down to 28 percent in the third quarter of 2017.
California Housing Affordability Index 2017 Q1. Percentage of households who can afford to buy a median-priced home. Affordability inched up to 32 percent in Q1 2017.
Homes were slightly more affordable in Q3 2016 compared with Q3 2015. 31% of California households could afford to purchase a median-priced single-family home in Q3 2016 vs 29% in Q3 2015.
Strong seasonal price increases made it harder for Californians to purchase a home in the second quarter of 2016.
Minimum annual income required to purchase hits six digits for first time since Great Recession, allowing only 31% of households able to afford a California home. Percentage of households who can afford to buy a median-priced home.
California Housing Affordability Index Q1 2016 Download as a PDF