Housing · State Guide
Home affordability in California
The income you need to afford a home in California, based on current prices and real lending standards.
California housing snapshot
| Metric | Value |
|---|
| Approximate median home price | $800,000 |
| Typical 20% down payment | $160,000 |
| Loan amount (after 20% down) | $640,000 |
| Property tax rate (approx.) | 1.1%/year |
| Est. total monthly payment | ~$5,056/mo |
| Income needed (28% rule) | ~$216,686/year |
California's median home prices are among the highest in the country, driven by supply constraints and strong demand in coastal metros. The Bay Area and LA regularly see median prices of $1M+. Prop 13 caps property tax increases at 2%/year for existing owners, but new buyers pay full assessed value at purchase — typically 1.1-1.25% of purchase price annually. First-time buyers should investigate CalHFA programs which offer down payment assistance.
Calculate your affordability in California
Pre-filled with typical California values — adjust to your specific situation.