IE Business Daily Business news for the Inland Empire.
An overwhelming number of California households could not afford a median-priced home in 2025, according to a report.
Only 19 percent made enough money to pay for a single-family detached home priced at $875,550, one percent more than in 2024, the California Association of Realtors reported.
An annual income of at least $221,200 was needed to make that purchase.
Monthly payments on a 30-year fixed-rate loan would be $5,530, including taxes and insurance. Those numbers assume 20 percent down payment and a 6.7 percent interest rate, according to the association.
Broken down by ethnicity, white households (23 percent), Asian (29 percent), Hispanic/Latino (11 percent), and African-American (11 percent) could afford a median-priced home last year.
In the Inland Empire, 30 percent of Inland Empire households could afford a median-priced home – $565,000 – in 2025. A minimum annual income of $142,800 was needed to make that purchase, the Los Angeles-based association reported.
