Nineteen percent of California households could afford the state’s median-priced existing single-family home in the third quarter, unchanged from the preceding quarter and a year earlier, the California Association of Realtors reported October 30.
Its Traditional Housing Affordability Index put the median home price at $894,630, down 2.3% from $915,590 in the second quarter. The effective 30-year fixed mortgage rate increased to 6.80% from 6.54%, offsetting some of the benefit from lower prices.
Under the association’s calculations, the minimum qualifying annual household income remained $228,000. Estimated monthly payments covering principal, interest, taxes and insurance held at $5,700.
These are benchmark calculations for a median-priced home, rather than a determination that any individual household can obtain a mortgage or should purchase property.
Affordability improved modestly for condos and townhomes. The share of households able to afford the median-priced unit rose to 31% from 30%. The median price fell to $640,000, while the estimated qualifying income declined to $163,200.
The statewide figure masks local differences. Of 53 counties tracked, 24 improved from the previous quarter, 21 deteriorated and eight were unchanged. Lassen had the highest affordability reading at 61%; Mono had the lowest at 8%.
The report describes third-quarter conditions. Its mortgage-rate figure is the period’s effective rate, not a live quote for a loan available today.
Sources: California Association of Realtors, third-quarter 2026 Housing Affordability Index, released October 30.