published on May 17, 2017 - 1:28 AM
Written by The Business Journal Staff

The Central Valley is bucking a statewide trend as homes become less affordable for residents here.

According to new data from the California Association of Realtors, statewide, 32 percent of California households could afford to purchase the $496,620 median-priced home in the first quarter, up from 31 percent in the fourth quarter of 2016 and 30 percent a year ago.

But in the Central Valley, homes are becoming slightly less affordable for the most part.

In Fresno County, 48 percent of homebuyers could afford to purchase a median-priced, existing single-family home in the first quarter. The median price in Fresno for the quarter was $238,000, with a monthly payment of $1,220 and minimum qualifying income of $48,910.

The affordability index in Fresno for the fourth quarter of 2016 was 50 percent, and 52 percent a year ago.

In Kings County, 53 percent were qualified to purchase a home in the first quarter, with a median price of $215,000, monthly payment of $1,100 and minimum income of $44,180.

The affordability index in Kings County was 56 percent in the fourth quarter of 2016 and 58 percent a year ago.

In Madera County, 47 percent could purchase a home with a median price of $238,000, monthly payment of $1,220 and minimum income of $48,910.

The affordability index in Madera County was 49 percent in the forth quarter of 2016 and 50 percent a year ago.
In Tulare County, 52 percent could purchase a median-priced home of $212,000 with a monthly payment of $1,090 and minimum income of $43,560.

The affordability index in Tulare was 49 percent in the further quarter of ’16 and 52 percent a year ago.


e-Newsletter Signup

Our Weekly Poll

Should the City of Fresno be granted access to inspect, appraise the Tower Theatre?
106 votes

Central Valley Biz Blogs

Popup Click Me!!!