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fresno county real estate

published on August 11, 2022 - 2:58 PM
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Housing affordability in the Golden State slipped further away in the spring, according to new home price data.

The California Association of Realtors found that only 16% of Californians could afford the $883,370 median home price recorded statewide in the second quarter of 2022.

—24% of homeowners could afford the median home price in Q1 2022

—23% of homeowners could afford the median home price in Q2 2021.

In Fresno County, the median home price was $424,500, with $95,600 in annual income needed to qualify for a mortgage. Using median income data, that means 31% of household populations could afford a mortgage in that time period, compared to 37% in Q1 and 43% a year ago.

—Average monthly payment, including taxes and insurance, comes out to $2,390.

—Household Fresno median income was $57,109 in 2020, according to U.S. Census data

Tulare County fell further quarter-over-quarter with only 34% of households able to afford the median home price of $371,000. That is a 7-point drop from 41% in Q1 and a nine-point drop from Q2 2021.

—$83,600 annual income was required to purchase the median-priced home in Tulare County.

—Average monthly payment totaled $2,090 for mortgage, taxes and insurance.

—Median income for Tulare County households averaged $52,534 in 2020, according to U.S. Census data.

In Kings County, 39% of households could afford the median-priced home of $357,000. That is a decline from 51% in Q1 and 56% in Q2, 2022.

 —Income of $80,800 was needed to qualify for a mortgage

 —Average monthly payments totaled $2,020 for mortgage, taxes and insurance.

—Households in Kings County earn an average $61,556 annually according to U.S. Census data.

Only 32% of households could afford the $420,140 median-priced home in Madera County. Thirty-eight percent could afford that in Q1 and 44% a year ago.

—$94,800 in income was needed to qualify for a mortgage.

—Houses paid an average $2,370 a month for mortgage, taxes and insurance.

—Households in Madera County make an average $52,534 annually according to U.S. Census data.

For the state as a whole, Lassen (54 percent) remained the most affordable county in California in the second quarter of 2022, followed by Kings (39 percent), Glenn (36 percent) and Shasta (36 percent).


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