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		<title>This is the salary you need to afford a home in California</title>
		<link>https://hsjchronicle.com/this-is-the-salary-you-need-to-afford-a-home-in-california/</link>
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		<dc:creator><![CDATA[Contributed]]></dc:creator>
		<pubDate>Sun, 14 Aug 2022 19:00:00 +0000</pubDate>
				<category><![CDATA[Real Estate]]></category>
		<category><![CDATA[afford a home]]></category>
		<category><![CDATA[California]]></category>
		<category><![CDATA[salary]]></category>
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					<description><![CDATA[<p>The Golden State is notorious for its exorbitant housing prices up and down the coast - from San Francisco down to San Diego - it isn't a surprise to see houses for sale triple the amount than in other parts of the country.</p>
<p>The post <a href="https://hsjchronicle.com/this-is-the-salary-you-need-to-afford-a-home-in-california/">This is the salary you need to afford a home in California</a> appeared first on <a href="https://hsjchronicle.com">The Hemet &amp; San Jacinto Chronicle</a>.</p>
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<p class="wp-block-paragraph"><strong>California State</strong></p>



<p class="wp-block-paragraph">Alexa Mae Asperin | Contributed</p>



<p class="wp-block-paragraph">It is cheap to live in California &#8211; said no one ever.</p>



<p class="wp-block-paragraph">The Golden State is notorious for its exorbitant housing prices up and down the coast &#8211; from San Francisco down to San Diego &#8211; it isn&#8217;t a surprise to see houses for sale triple the amount than in other parts of the country.</p>



<p class="wp-block-paragraph">Just how expensive is it?</p>



<p class="wp-block-paragraph">Visual Capitalist used data from Home Sweet Home to analyze the salary one needs to earn in order to buy a home in America&#8217;s 50 biggest metros.</p>



<p class="wp-block-paragraph">According to the data, the median home price in the U.S. is around $370,000. That means the average person would need to earn around $76,000 to consider comfortably purchasing a home in the U.S.</p>



<p class="wp-block-paragraph">But that does not apply to some states like California, where cities like Los Angeles, San Diego, San Jose, and San Francisco are the most expensive cities in the country.</p>



<p class="wp-block-paragraph">The highest median home prices in the U.S. can be found in San Jose, where you&#8217;d need to earn around $337,000. The data revealed the monthly mortgage payment in San Jose for the median home is $7,718.</p>



<figure class="wp-block-image size-full is-resized"><img fetchpriority="high" decoding="async" src="https://hsjchronicle.com/wp-content/uploads/2022/08/m2.jpg" alt="" class="wp-image-49308" width="800" height="600" srcset="https://hsjchronicle.com/wp-content/uploads/2022/08/m2.jpg 800w, https://hsjchronicle.com/wp-content/uploads/2022/08/m2-300x225.jpg 300w, https://hsjchronicle.com/wp-content/uploads/2022/08/m2-768x576.jpg 768w, https://hsjchronicle.com/wp-content/uploads/2022/08/m2-696x522.jpg 696w, https://hsjchronicle.com/wp-content/uploads/2022/08/m2-560x420.jpg 560w, https://hsjchronicle.com/wp-content/uploads/2022/08/m2-80x60.jpg 80w, https://hsjchronicle.com/wp-content/uploads/2022/08/m2-265x198.jpg 265w, https://hsjchronicle.com/wp-content/uploads/2022/08/m2-600x450.jpg 600w" sizes="(max-width: 800px) 100vw, 800px" /><figcaption>California is the most expensive state to live in. | Contributed Photo/Getty Images.</figcaption></figure>



<p class="wp-block-paragraph">Here are the salaries needed to comfortably afford a home in California&#8217;s largest metros:</p>



<p class="wp-block-paragraph">San Jose</p>



<p class="wp-block-paragraph">Median Home Price: $1.88M</p>



<p class="wp-block-paragraph">Salary Needed: $330.76K</p>



<p class="wp-block-paragraph">San Francisco</p>



<p class="wp-block-paragraph">Median Home Price: $1.38M</p>



<p class="wp-block-paragraph">Salary Needed: $249.69K</p>



<p class="wp-block-paragraph">San Diego</p>



<p class="wp-block-paragraph">Median Home Price: $905K</p>



<p class="wp-block-paragraph">Salary Needed: $166.83K</p>



<p class="wp-block-paragraph">Los Angeles</p>



<p class="wp-block-paragraph">Median Home Price: $792.5K</p>



<p class="wp-block-paragraph">Salary Needed: $149.13K</p>



<p class="wp-block-paragraph">Riverside/San Bernardino</p>



<p class="wp-block-paragraph">Median Home Price: $560K</p>



<p class="wp-block-paragraph">Salary Needed: $106.19K</p>



<p class="wp-block-paragraph">Sacramento</p>



<p class="wp-block-paragraph">Median Home Price: $545K</p>



<p class="wp-block-paragraph">Salary Needed: $105.93K</p>



<p class="wp-block-paragraph">If you&#8217;re thinking that renting may be a cheaper option versus owning in California, think again.</p>



<p class="wp-block-paragraph">The Out of Reach report from <a href="https://nlihc.org/">the National Low Income Housing Coalition</a> revealed Californians are among those who have it the worst.</p>



<p class="wp-block-paragraph">According to the report, the average Californian needs to earn an hourly wage of $39.01 and work full-time to afford a two-bedroom apartment.</p>



<p class="wp-block-paragraph">Find your latest news here at the <a href="https://hsjchronicle.com/">Hemet &amp; San Jacinto Chronicle</a> </p>
<p>The post <a href="https://hsjchronicle.com/this-is-the-salary-you-need-to-afford-a-home-in-california/">This is the salary you need to afford a home in California</a> appeared first on <a href="https://hsjchronicle.com">The Hemet &amp; San Jacinto Chronicle</a>.</p>
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