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These days, finding an affordable place to live in the California area can be challenging. Home prices in California are now at a median cost of $812,006, higher than the the United States average of $419,293.
The average cost of rent is $2,229/mo in California, primarily driven by the current value of real estate in the California area. In California, 44.14% of households rent, and 33.83% of homeowners own their homes outright.
Housing affordability isn’t just about home prices, though. The average household income in California is $9,311 per month. Households that rent pay about 23.94% of their income on rent here. California’s most expensive areas are in the western regions, while the cheapest areas are in the eastern parts of the state.
Source: BestNeighborhood calculations from the U.S. Census Bureau, American Community Survey (ACS) 2020-2024 5-year estimates.
Nearby States
States with Similar Populations
- Alaska: less expensive homes
- Hawaii: equally priced homes
- Puerto Rico: less expensive homes
- Arkansas: less expensive homes
- Florida: less expensive homes
- Louisiana: less expensive homes
- Maine: less expensive homes
- Massachusetts: less expensive homes
- Minnesota: less expensive homes
- Montana: less expensive homes
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