Homebuyers In Placer, El Dorado, Solano, And San Joaquin Counties Spend More Than Half Of Earnings To Afford House
SACRAMENTO (CBS13) - People buying homes in Placer, El Dorado, Solano, and San Joaquin Counties use more than 50 percent of their earnings in order to afford a home.
ATTOM Data Solutions looked at the affordability for average wage earners in 498 counties from July-September and found below-average affordability in more than 75 percent of the country.
None of the counties in our region had affordability under 40 percent.
- El Dorado: 67.9%
- Placer: 59.8%
- San Joaquin: 53.1%
- Solano: 50.5%
- Yolo: 49.8%
- Stanislaus: 46.9%
- Sacramento: 41.5%
Only Yolo County (2.9% vs. 2.5%) had a year-over-year earning growth higher than the year-over-year median home price increase.
Nationally, Kings County (Brooklyn), New York had the highest wage percentage needed to buy a home at 110.4 percent. Santa Cruz County and Marin County came in numbers two and three, with 105 percent and 102.4 percent respectively.
The most affordable were Calhoun County, Michigan (14.4 percent), Wayne County, Michigan (14.9 percent), and Clayton County, Georgia (15.2 percent.)
