Roughly 1-in-5 California households have housing expenses gobbling up more than half of their incomes. My trusty spreadsheet identified numerous affordability challenges by analyzing 2024 Census Bureau housing data for the 50 states and the District of Columbia. These latest figures detail swings in who's renting and who owns, how much they pay a month, which households are financially swamped by housing expenses, and how many folks can squeeze into a home.
Here is yet another way to look at the financial challenges of California homeownership: Recurring costs eat up more than half of household income for roughly 1 in 6 owners statewide. My trusty spreadsheet identified this affordability challenge by analyzing 2024 Census Bureau housing data for the 50 states and the District of Columbia. These latest figures detail swings in who owns their residence, how much they pay a month, and how many owner households are financially swamped by expenses. That's when mortgage payments - one-third of Californians don't have a home loan - plus items such as insurance, utilities and association dues top 50% of an owner's income.