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Housing Affordability Index - First-Time Buyer

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C.A.R.'s First-time Buyer Housing Affordability Index (FTB-HAI) measures the percentage of households that can afford to purchase an entry-level home in California. C.A.R. also reports first-time buyer indexes for regions and select counties within the state. The Index is the most fundamental measure of housing well-being for first-time buyers in the state.


Download series:    XLS  |  Historical

First -Time Buyer Housing Affordability Index Methodology

Q42023

First Time Buyer Housing Affordability Index

STATE/REGION/COUNTY

Q42023

Q32023

 

Q42022

Median Home Price

Monthly Payment Including Taxes & Insurance

Minimum Qualifying Income

CA SFH (SAAR)

28

29

 

34

 

$708,190

$4,900

$147,000

CA Condo/Townhomes

39

40

 

46

 

$552,500

$3,820

$114,600

Los Angeles Metropolitan Area

29

29

 

35

 

$658,750

$4,550

$136,500

Inland Empire

39

40

 

45

 

$480,680

$3,320

$99,600

S.F. Bay Area

28

27

 

33

 

$1,045,500

$7,230

$216,900

US

53

52

 

57

 

$332,950

$2,300

$69,000

 

 

 

 

 

 

 

 

 

S.F. Bay Area

 

 

 

 

 

 

 

 

Alameda

25

24

 

31

r

$1,028,500

$7,110

$213,300

Contra Costa

40

39

 

45

r

$705,500

$4,880

$146,400

Marin

23

24

 

25

 

$1,402,080

$9,690

$290,700

Napa

30

30

 

32

 

$772,650

$5,340

$160,200

San Francisco

27

27

 

27

 

$1,330,250

$9,200

$276,000

San Mateo

25

25

 

27

 

$1,647,640

$11,390

$341,700

Santa Clara

26

25

 

28

 

$1,487,710

$10,290

$308,700

Solano

46

46

 

51

 

$493,000

$3,410

$102,300

Sonoma

31

31

 

36

 

$701,250

$4,850

$145,500

Southern California

 

 

 

 

 

 

 

 

Los Angeles

22

23

 

28

 

$751,750

$5,200

$156,000

Orange

17

17

 

24

 

$1,104,580

$7,640

$229,200

Riverside

37

38

 

43

 

$526,150

$3,640

$109,200

San Bernardino

45

46

 

51

 

$415,620

$2,870

$86,100

San Diego

24

24

 

31

 

$791,860

$5,480

$164,400

Ventura

28

28

 

34

 

$764,960

$5,290

$158,700

Central Coast

 

 

 

 

 

 

 

 

Monterey

18

21

 

28

 

$844,900

$5,840

$175,200

San Luis Obispo

21

23

 

28

 

$771,380

$5,330

$159,900

Santa Barbara

17

18

 

24

 

$930,200

$6,430

$192,900

Santa Cruz

20

20

 

21

 

$1,020,000

$7,050

$211,500

Central Valley

 

 

 

 

 

 

 

 

Fresno

46

45

 

50

 

$344,830

$2,380

$71,400

Glenn

51

50

 

56

 

$297,290

$2,060

$61,800

Kern

46

46

 

49

 

$323,000

$2,230

$66,900

Kings

50

49

 

58

 

$307,700

$2,130

$63,900

Madera

49

49

 

52

 

$353,600

$2,440

$73,200

Merced

49

50

 

55

 

$327,250

$2,260

$67,800

Placer

48

47

 

51

 

$552,500

$3,820

$114,600

Sacramento

42

43

 

49

 

$454,750

$3,140

$94,200

San Benito

32

36

 

40

 

$663,000

$4,580

$137,400

San Joaquin

40

42

 

46

r

$464,190

$3,210

$96,300

Stanislaus

43

44

 

50

 

$395,250

$2,730

$81,900

Tulare

50

49

 

52

 

$310,250

$2,150

$64,500

Far North

 

 

 

 

 

 

 

 

Butte

46

46

 

48

 

$357,710

$2,470

$74,100

Lassen

68

74

 

72

 

$212,080

$1,470

$44,100

Plumas

51

49

 

52

 

$331,500

$2,290

$68,700

Shasta

54

53

 

57

 

$311,530

$2,150

$64,500

Siskiyou

52

53

 

50

 

$260,310

$1,800

$54,000

Tehama

56

55

 

56

 

$262,170

$1,810

$54,300

Other Counties in California

 

 

 

 

 

 

 

 

Amador

51

47

 

56

 

$348,500

$2,410

$72,300

Calaveras

50

47

 

51

 

$379,100

$2,620

$78,600

Del Norte

43

45

 

43

 

$348,500

$2,410

$72,300

El Dorado

41

42

 

47

r

$557,180

$3,850

$115,500

Humboldt

40

40

 

42

 

$365,080

$2,520

$75,600

Lake

46

49

 

48

 

$282,630

$1,950

$58,500

Mariposa

35

33

 

47

 

$375,700

$2,600

$78,000

Mendocino

35

32

 

33

 

$405,880

$2,810

$84,300

Mono

10

12

 

18

 

$873,380

$6,040

$181,200

Nevada

41

40

 

46

 

$461,550

$3,190

$95,700

Sutter

50

50

 

54

 

$355,940

$2,460

$73,800

Tuolumne

49

49

 

55

 

$343,190

$2,370

$71,100

Yolo

38

39

 

42

 

$533,580

$3,690

$110,700

Yuba

43

45

 

51

 

$370,810

$2,560

$76,800

 

 

Source: CALIFORNIA ASSOCIATION OF REALTORS®


 r – revised

Note: The effective interest rate series previously used to calculate C.A.R.’s First-Time Buyer Housing Affordability Index (FTB-HAI) was discontinued in 2008. Beginning with this news release, the FTB-HAI will incorporate an effective interest rate that is based on the one-year, adjustable-rate mortgage (ARM) from Freddie Mac’s Primary Mortgage Market Survey (PMMS). The effective rate accounts for both the one-year ARM rate and the points/fees as reported by Freddie Mac.


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