Housing Affordability Rises in California

Housing affordability in California increased to 32% in September, up 1 percentage point from a year ago, the California Assn. of Realtors said.

Declining mortgage interest rates contributed to the improvement in the affordability rate, CAR economists said.

In Los Angeles County, 35% of residents could afford a median-price home, up from 34% a year ago.

At 25%, San Diego was the least-affordable county in the region, up 1 percentage point over last year. Orange County saw a 3 percentage-point gain in affordability at 30%, up from 27% a year earlier.

In Ventura County, affordability was 35%, up from 31%. Riverside and San Bernardino counties remained the most affordable at 48%, up from 47% a year ago.

At 15%, San Francisco was the least-affordable county in the state.