We have picture of just how varied housing affordability is across Southern California.
Orange County has worse affordability rating with only 21% of households able to earn the $154,120 required to purchase a median price house for $750,000. However, this is still below the 10% figure reached during the housing bubble, but well above the 39% figure reached after the bubble burst.
LA County is not much better with only 29% of household able to earn the $99,830 required to purchase a $485,800 median priced house.
The Inland Empire fares better for affordability. Riverside boasts a more reasonable 39% of households able to buy a $365,000 median priced home with an income of $75,000.
San Bernardino came in at the number 5 most affordable county with 52% of residents able to earn the $52,790 required to buy a $256,900 home.
Santa Barbara had the second worst rate of housing affordability with 14% of households earning $160,080 to buy a $779,000 home, just behind San Francisco’s 13% rate.
Ventura was not far behind with 25% of households earning the $132,000 required to buy a $642,480 home.