Central Valley single-family homes have become more affordable in the last year, according to the latest data from the California Association of Realtors.

According to the C.A.R. Traditional Housing Affordability Index, 32% of Fresno County residents could affordable a home in the third quarter, compared to 46% in Q3 2021. That’s up a percentage point from Q2 2022.

Fresno County’s third quarter median home price was $410,000, with a monthly mortgage payment (including taxes and insurance) of $2,380 and minimum qualifying income of $95,200 per year.

In Kings County, 40% of residents could afford a home in the third quarter, down from 56% a year ago and 39% in Q2 2022.

Kings County’s median home price was $335,000, with a monthly payment of $1,940 and minimum income of $77,600.

Madera County’s affordability index was 34% for Q3, compared to 43% in Q3 2021 and 32% in Q2 2022. The median price was $410,000, with a monthly payment of $2,380 and minimum income of $95,200.

Tulare County’s affordability index was 36% for Q3, compared to 46% in Q3 2021 and 34% in Q2 2022. The median price $355,000, with a monthly payment of $2,060 and minimum income of $82,400.

California’s third-quarter affordability rose slightly to 18% from 16% in Q2 2022, but was down from 24% in Q3 2021. California hit a peak high affordability index of 56% in the first quarter of 2012.

A minimum annual income of $192,800 was needed to qualify for the purchase of a $829,760 statewide median-priced, existing single-family home in the third quarter of 2022. The monthly payment, including taxes and insurance on a 30-year, fixed-rate loan, would be $4,820, assuming a 20% down payment and an effective composite interest rate of 5.72%.

The effective composite interest rate was 5.39% in second-quarter 2022 and 3.07% in third-quarter 2021.