Half of Californians Can’t Afford Their Homes
Californians are more burdened by housing costs than are residents of any other state, an analysis of new census data shows.
More than half of the state’s homeowners with a mortgage — 51.4 percent — spend more than 30 percent of their monthly income on housing costs, according to 2005-2009 estimates from the U.S. Census Bureau’s American Community Survey.
Renters in California are in the same boat, with 51.8 percent spending more than 30 percent of their income on rent and utilities.
The 30 percent threshold for housing costs has long been a conventional marker of affordability [PDF]. The estimates, released Tuesday, show that housing costs exceed 30 percent for 36.7 percent of mortgaged owners and 46.2 percent of renters nationwide.
Housing costs in California are among the highest in the country. California homeowners spend an average $2,292 per month, compared to $1,486 nationally. Renters in the state pay an average $1,116 toward housing, compared to $817 nationally.
With high housing costs come high home values. Median values of owner-occupied housing units were greater than $500,000 in 32 U.S. counties — including 17 in California. Home values in the state ranged from $160,100 in Modoc County to $880,000 in Marin County.
This post originally appeared on California Watch, a project of the Center for Investigative Reporting.
If you're reading this, you probably already know that non-profit, independent journalism is under threat worldwide. Independent news sites are overshadowed by larger heavily funded mainstream media that inundate us with hype and noise that barely scratch the surface. We believe that our readers deserve to know the full story. Truthdig writers bravely dig beneath the headlines to give you thought-provoking, investigative reporting and analysis that tells you what’s really happening and who’s rolling up their sleeves to do something about it.
Like you, we believe a well-informed public that doesn’t have blind faith in the status quo can help change the world. Your contribution of as little as $5 monthly or $35 annually will make you a groundbreaking member and lays the foundation of our work.
Support Truthdig
News
Tax breaks, mostly for industrial companies and wealthy households, add up to more than double the expected deficit.
News
Dozens of cities and states sued oil giants for deceiving the public. The Supreme Court could soon break those cases out of limbo.
Environment
The plan would cut water use on the river by roughly a quarter, drying up farms and subdivisions across the Southwest.
Environment
Trees have grown less fire-resistant, affecting the state's plans to fight climate change.
News
With ballroom dancing turning to bloodshed, the older AAPI community grapples with the need for gun control.
Labor
The Department of Homeland Security has issued guidance to protect immigrants from deportation and other forms of retaliation during labor disputes
There are currently no responses to this article.
Be the first to respond.