County Homes Among Least Affordable in U.S. : Housing: Area ranks 13th among priciest places in the country. San Francisco is No. 1, trade group says.

Although Orange County remains a pricey market for home buyers, housing affordability remains excellent in most of the nation, a home-builders trade group said Thursday.

Out of the top 25 least-affordable places to live in the country, Orange County was ranked 13th, according to the National Assn. of Home Builders.

Continuing a recent trend, the most affordable markets were primarily in the Midwest and the South in the final three months of 1993. The least affordable homes were mostly in the Northeast and in the West, particularly in California.

“I think Orange County has always been one of the least affordable housing markets, but I think we’ve come down somewhat, but so has the rest of the nation,” said John Shumway, president of Market Profiles, a real estate consulting firm in Costa Mesa. “I don’t think that puts us at a disadvantage. It’s always been expensive to buy a home here.”

Of the 178 metropolitan areas in the nation surveyed, San Francisco, for the third year in a row, had the least-affordable housing, with only 18.5% of the homes sold being affordable to families with household earnings equal to the area’s median income. In Orange County, 50.5% of the homes sold late last year were affordable to median-income families.

The index measures the ability of the typical family to purchase a home in its own market by comparing median family income with the median home price.

On the least-affordable list, San Francisco was followed by several other California cities, including Salinas, where only 27.6% of the homes sold were considered affordable to the average family; Santa Cruz, where the number was 28.4% and Santa Rosa, 33.3%. Los Angeles was fifth from the bottom at 37.4%, followed by San Jose at 43% and Santa Barbara at 44.9%.

Nationally, the median home price in the fourth quarter was $112,000 and median household income was $39,700, meaning that the typical household could afford to buy 66.8% of the homes offered for sale, up from 65.1% in the prior three months.

“Housing affordability conditions were excellent in the fourth quarter throughout the entire country and are still excellent, even though mortgage interest rates have risen slightly,” said Tommy Thompson, president of the National Assn. of Home Builders, based in Washington.

Housing Affordability The 25 most affordable and 25 least affordable U.S. housing markets in the fourth quarter of 1993, according to the National Assn. of Home Builders. The number corresponding to each area is the percentage of the homes sold that were within reach of the median income household at the prevailing mortgage interest rate.

Most Affordable

Metro Area: Percent

Jackson, Mich.: 94.7%

Lansing, Mich.: 93.9

Brazoria, Tex.: 92.9

Kalamazoo, Mich.: 92.3

Elkhart, Ind.: 92.3

Kokomo, Ind.: 92.1

Rockford, Ill.: 91.8

Lima, Ohio: 91.8

Grand Rapids, Mich.: 91.6

Peoria, Ill.: 91.5

Milwaukee: 91.1

Nashua, N.H.: 91.1

Vineland, N.J.: 91.0

Omaha, Neb.: 90.7

Utica, N.Y.: 90.6

Springfield, Ill.: 90.3

Duluth, Minn.: 90.3

Elmira, N.Y.: 90.1

Binghamton, N.Y.: 89.9

Syracuse, N.Y.: 89.7

Harrisburg, Pa.: 89.6

Fort Wayne, Ind.: 89.5

Mansfield, Ohio: 89.4

Joliet, Ill.: 89.4

Davenport, Iowa: 89.2

*

Least Affordable

Metro Area Percent

San Francisco: 18.5%

Salinas, Calif.: 27.6

Santa Cruz: 28.4

Santa Rosa, Calif.: 33.3

Honolulu: 34.1

Los Angeles: 37.4

San Jose: 43.0

Stamford, Conn.: 43.9

Santa Barbara: 44.9

San Diego: 45.0

New York: 46.8

Oakland: 48.1

Orange County: 50.5

Yuba City, Calif.: 53.7

Reno: 53.9

Stockton: 54.9

Chico, Calif.: 56.3

Ventura: 58.3

Vallejo, Calif.: 58.9

Fresno: 59.7

Fall River, Mass.: 62.1

Bridgeport, Conn.: 62.1

Sacramento: 62.5

El Paso, Tex.: 62.5

Merced: 64.0