$218,000 income needed to buy a California home, up 82% since 2019

"To qualify for a typical California home at the start of 2025, an annual income of $218,000 is necessary, representing an 82% increase since 2019."

"California's median home price has surged to $846,830, requiring a higher income and making homeownership accessible for only 17% of households."

Over the last five years, the annual income needed to purchase a home in California has almost doubled, soaring by 82% to $218,000 for 2025. This increase is driven by a combination of rising home prices, now at a median of $846,830, and higher mortgage rates, which surged from 3.89% to 6.93%. Only 17% of households can afford a home, a decrease from 31% in late 2019. Similar trends are observed in the condo market, as well as geographical disparities impacting affordability in regions like Southern California and the Bay Area.

Read at www.ocregister.com