San Luis Obispo - Improved Homeowner Affordability
2016 3rd Quarter showed homes were slightly more affordable in comparison with 2015 3rd Quarter
Median price for a single family home in California was $515,940. That means a family would need a minimum annual income of $100,290 to make the monthly payment of $2,510, including principal, interest and taxes on a 30 year fixed-rate mortgage at 3.76% interest rate.
31% of California households could afford to purchase a median priced single family home in 3rd Quarter/ 2016 versus 29% in the same quarter of 2015. 40% of home buyers were able to purchase a median priced condo or town-home. (The median being $418,230)
The most affordable counties in California were Kings County, Kern County, and San Bernardino County.
The least affordable counties in California were San Francisco County, San Mateo County, and Marin County.
Information Source: California Association of Realtors Q3 2016 Housing Affordability Index
Please contact San Luis Obispo Realty, to find homes, land, investment - commercial property, vineyard - winery property, or any type real estate that fits within your home or investment budget. We are always happy to do a FREE market analysis to help determine the relative affordability. We have expert real estate agents ready to assist you in finding your next dream home on the Central Coast of California.