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published on May 11, 2016 - 10:25 PM
Written by The Business Journal Staff

New data from the California Association of Realtors reveals a mixed bag when it comes to housing affordability in the Central Valley’s Kings County.


For the first quarter of the year, Fresno’s affordability index was 52, up from 49 in the fourth quarter of last year and 51 from the first quarter of last year.

The affordability index indicates the percentage of home buyers who could afford to purchase a median-priced, existing single-family home.

In Fresno County, the annual minimum qualifying income to buy a home was $43,689 in the quarter, with a monthly payment of $1,092 to purchase a home with the median price of $219,590

Kings County has an affordability index at 58, down from 61 in the last quarter of 2015 and down from 62 percent a year ago.

Kings County’s annual minimum income to buy a house in the first quarter was $40,058, with a monthly payment of $1,001 to purchase a home with the median price of $201,340

During the first quarter, Kings County was the most affordable county in California to buy a home.

Madera’s affordability index was 50, up from 48 percent from the fourth quarter of last year but below 51 percent a year ago.

The annual minimum income to buy a home in Madera was $43,184, with monthly payments of $1,080 to purchase a home with the median price of $217,050.

Tulare’s affordability index was 52, down from 54 percent in the fourth quarter of last year and 57 percent a year ago.

Tulare’s annual minimum income to buy a house was $38,578, with monthly payments of $964 to purchase a median-priced home of $193,900.

Statewide, the median home price in the first quarter was $465,280, with an annual minimum qualifying income of $92,571 and monthly payments of $2,314, with 34 percent of California residents able to afford a home in the Golden State.


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