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

"The annual income required to purchase a typical California house has nearly doubled over the past five years."

"By early 2025, a $218,000 income was necessary to qualify for a California home, an 82% increase since the end of 2019."

"Mortgage rates have risen from 3.89% in late 2019 to 6.93% in early 2025, compounding the affordability crisis for homebuyers."

"Only 17% of households can afford to buy a home in California today, down from 31% at the end of 2019."

In California, the annual income needed to buy a typical home has surged nearly 82% to $218,000 since the end of 2019, alongside rising mortgage rates from 3.89% to 6.93%. The median home price has increased by 40% to $846,830, severely limiting affordability, with only 17% of households qualifying to purchase a home in 2025, down from 31% five years prior. Even for condos and townhomes, income requirements have increased significantly, impacting buyers throughout the state, though trends differ between Southern California and the Bay Area.

Read at The Mercury News