Shrinking affordability isn’t just a California problem.

That’s what you see from my trusty spreadsheet’s comparison of the California Association of Realtors’ affordability report for the second quarter of 2025 vs. the numbers from the same period in 2022.

Yes, the required income to buy California’s $905,680 median home was $232,400 this spring — up $33,200 or 17% in three years. That translates to just 15% of households statewide being able to afford to buy vs. 16% in 2022.

But ponder affordability, nationally, too.

Buying the $429,400 U.S. median home required $110,400 in income, a cash flow that grew $17,200 or 18% since 2022.

So, 34% of Americans qualify compared to 38% three years ago.

This math assumes a theoretical buyer borrowed at 2025’s 6.9% interest rate compared to 5.4%

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