Orange County’s housing affordability declined in April from a year ago, a realtor trade group said Thursday.
The percentage of households in OC that can afford a median-priced home was 11% in April, down from 13% a year earlier, the Los Angeles-based California Association of Realtors said. The index was unchanged from March.
The trade group said it would take annual household income of $161,140 to afford the county’s median-priced home,$682,200 in April. A year ago, it took $145,960 in household income to afford the median-priced home of $645,590, said Mark Giberson, a spokesman for the realtor association.
In California, the percentage of households able to afford the $509,230 median-priced home was 17% in April, down from 20% a year ago when the median-priced home was $452,680.
