IE Business Daily Business news for the Inland Empire.
Home ownership continued to be out of reach for most Californians during the second quarter of 2025.
Only 15 percent of the state’s households could afford the $905,680 median price of a single-family home during that time, down from 17 percent in the first quarter and up from 14 percent year-over-year, according to the California Association of Realtors.
An annual income of at least $232,400 was needed to make monthly payments of $5,810, based on a 6.9 percent interest rate. That number is based on a 30-year mortgage, and includes principal, interest, taxes, and insurance.
The second-quarter figure is less than one-third of the 56 percent affordability peak recorded during the second quarter of 2012.
Twenty-five percent of home buyers were able to purchase the $670,000 median-priced condo or townhome during the second quarter.
In the Inland Empire, 21 percent of the households could afford the $610,000 median price during the second quarter, unchanged from the first quarter and up one percent year-over-year, the association reported.
