Housing Affordability Increases to 34%

The percentage of Californians who could afford a median-priced home rose to 34% in December, up 2 percentage points from the same period a year ago, according to the California Assn. of Realtors.

Low mortgage interest rates continued to offset gains in the median price of a home in California, which was $276,940 in December, said the group’s president, Robert Bailey.

San Diego County was the least affordable county in the region at 27%, up 3 percentage points from last year. In Orange County, the figure was 31%, up 3 percentage points from a year ago. In Ventura County, the affordability index rose to 37% from 33%, while Los Angeles County remained the same at 36%.

Figures were unavailable for Riverside and San Bernardino counties.

San Francisco remained the least affordable county in the state at 15%.

Diane Wedner