April 01, 2021
Recent CIRB articles have discussed the urgency for affordable housing in California. For those who are deciding to stay in the Golden State, the search for affordable housing options may be difficult. Fortunately, CAR released data regarding the California housing affordability index for 2020 Q4 (October 1 – December 31).
According to the data, the most affordable region of California is the Central Valley as well as the far north. The median price range for the Central Valley during the fourth quarter of 2020 was $285,000 – $670,000. To purchase property up in the far north of the state, homebuyers were looking at a range of $215,000 – $405,000. These price ranges are far more affordable compared to the median price range of $720,000 – $1,690,000 in the Bay Area. Even compared to Southern California’s $375,000 – $935,000 median price range, the Central Valley and the far north remain attractive markets.
Coming out as the number one most affordable county during the fourth quarter of 2020 was Lassen California, with a median home price of $215,000. Since it is still early in 2021, these rates are still relevant for home buyers to take advantage of.The map below displays the contrast of California’s housing affordability index.
Trevon Martin // CIRB Journalism Intern