11/03/2026
California’s housing affordability held steady in Q3 as lower home prices offset higher mortgage rates, according to C.A.R.’s latest Housing Affordability Index.
Key takeaways include:
19% of California households could afford to purchase a median-priced home.
The median price in Q3 was $894,630, unchanged from both the second quarter and a year ago.
The minimum annual income needed to afford a median-priced home was $228,000.
The monthly mortgage payments, including principal, interest, taxes and insurance, with the effective 30-year fixed mortgage rate of 6.80%, were $5,700.
31% of California households could afford the $640,000 median-priced condo or townhome, up from 30% in both the previous quarter and a year ago.
To read more about the Q3 Housing Affordability Index, visit on.car.org/4yPhK4t.