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Article: Affordability of Housing in Orange County, Calif., Drops in March.(Knight Ridder/Tribune Business News)
- Article from:
- Knight Ridder/Tribune Business News
- Article date:
- May 8, 2000
- Author:
CopyrightCOPYRIGHT 2000 Knight-Ridder/Tribune Business News. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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May 5--It's getting harder for people in Orange County to afford a median-priced home, according to March figures from the California Association of Realtors.
The association's monthly affordability index measures the percentage of households that can afford to buy a median-priced home in California. At the median price, half the homes cost more and half cost less than the median.
This March, the index was 28 percent, down from 35 percent a year ago. That means that 28 percent of the Orange County households had the income in March to buy a median-priced home, which cost $304,390. Statewide, affordability fell to 31 percent, down 8 percentage points ...