You need a salary of $154K to afford a home in Orange County


Living in Orange County isn't an easy thing to do, just look at the hoards of homeless living in the Santa Ana riverbed.

According to a report from the California Association of Realtors (CAR), you need to make $154,120 a year to be able to afford the median priced home in Orange County.

Only 21% of OC households met that requirement during the first quarter of 2017, which is the period covered in CAR's report.

The affordability rate is down from 39%  at the peak of the housing downturn when median home prices were about $300,000 lower.

Orange County's minimum homebuying income for a family of four is $83,450, that's almost twice the amount compared to level set by the 2017 Housing and Urban Development guidelines.

Southern California is so expensive and yet there are parts that look like third world countries. What's the point of even living here anymore. Does the great climate even make it worth it?

Read more with the OC Register.


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