California
Ranked #50 of 51 for housing affordability
Median Home Price
🏠$726K
7.6x income
Median Rent
🔑$1,992
40.5% rent-burdened
Median Income
💰$96K
Population: 39,029,342
Homeownership
🏡56.0%
181,399 experiencing homelessness
Housing Shortage
📉1,200,000
units needed
Building Permits (2024)
🔨101,545
Price-to-Income
📊7.6x
Severe Rent Burden
⚠️22.3%
paying >50% of income
Rent Burden Breakdown
vs. National Average
House Price Index (2000–2025)
FHFA All-Transactions HPI · Base = 100 (1980s)
HUD Fair Market Rents (FY2026)
Maximum rent HUD considers fair for Section 8 voucher holders
FMR ($2595) is above the state median rent ($1992) — vouchers cover typical rents.
Metros in California
| Metro | Score | Home Price | Rent | Income | Rent Burden |
|---|---|---|---|---|---|
| Los Angeles | 14 | $867K | $1,993 | $92K | 43.0% |
| Riverside-San Bernardino | 32 | $552K | $1,850 | $88K | 37.0% |
| San Francisco | 12 | $1.1M | $2,397 | $128K | 35.5% |
| San Diego | 18 | $865K | $2,296 | $104K | 38.0% |
| Sacramento | 30 | $588K | $1,800 | $95K | 35.0% |
| San Jose | 15 | $1.4M | $2,773 | $153K | 33.0% |
| Fresno | 35 | $396K | $1,418 | $71K | 38.5% |
| Bakersfield | 42 | $347K | $1,286 | $69K | 36.0% |
| Oxnard-Thousand Oaks-Ventura | 44 | $820K | $2,264 | $108K | 29.6% |
| Stockton-Lodi | 59 | $532K | $1,655 | $87K | 25.2% |
| Santa Rosa-Petaluma | 42 | $785K | $2,061 | $101K | 23.5% |
| Modesto | 65 | $457K | $1,595 | $83K | 24.5% |
| Vallejo | 58 | $621K | $2,059 | $100K | 29.1% |
| Santa Maria-Santa Barbara | 34 | $781K | $1,988 | $91K | 33.7% |
| Visalia | 74 | $340K | $1,277 | $73K | 25.6% |
| Salinas | 34 | $759K | $2,004 | $88K | 29.0% |
| San Luis Obispo-Paso Robles | 30 | $818K | $1,922 | $91K | 32.5% |
| Santa Cruz-Watsonville | 24 | $1.0M | $2,055 | $106K | 28.3% |
| Merced | 49 | $409K | $1,294 | $58K | 29.7% |
| Chico | 54 | $421K | $1,434 | $63K | 35.5% |
| Redding | 73 | $355K | $1,351 | $76K | 22.5% |
| Yuba City | 69 | $398K | $1,357 | $77K | 20.3% |
| Napa | 41 | $832K | $2,239 | $105K | 23.9% |
| El Centro | 65 | $332K | $1,022 | $60K | 20.4% |
| Hanford-Corcoran | 68 | $349K | $1,220 | $66K | 22.2% |
Market Trends
Homeownership Rate
56.0%
Rent-to-Income Ratio
25.0%
of gross income spent on rent
Total Households
13,699,816
Owner-Occupied
7,658,458
Renter-Occupied
6,041,358
Homelessness
Latest Count (2024)
187,084
1-Year Change
+3.1%
10-Year Trend (2015–2024)
+61.6%
115,738 → 187,084
Housing Policies
Construction Activity
Total Permits (2024)
101,545
7.3% of national total
Single-Family
61,143
60% of state permits
Multi-Family
40,402
40% of state permits
Mortgage Access
National HMDA data — mortgage denial rates by race/ethnicity
Denial Rates by Race
Top Denial Reasons
Housing Shortage
State Shortage
1,200,000
units needed
National Shortage
7,300,000
16.4% of national total
Affordable Units per 100 ELI Renters
35
nationally (NLIHC)
National Shortage by Unit Type
45%
Single-Family
18%
Small Multi (2-4)
22%
Medium Multi (5-49)
15%
Large Multi (50+)
Rent Burden Detail
California burden rates with national demographic breakdown
Cost-Burdened Renters
40.5%
paying >30% of income
Severely Burdened
22.3%
paying >50% of income
Households >30% Burden
1,677,588
Households >35% Burden
305,806