Only 18% of California's 13.7 million households live in a house they own without a mortgage, significantly lower than the national average of 26%.
The trend shows mortgage-free living is growing in California, with a 12% increase in households without a mortgage since 2019, reflecting shifting financial dynamics.
Despite not having a mortgage, California homeowners still face high costs, averaging $834 per month for insurance, taxes, and repairs, underlining ongoing financial burdens.
Homeownership in California is unique; it has the third-highest percentage of renters nationally, revealing a complex housing landscape marked by affordability challenges.
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