Sacramento Has Become Nation's Least Affordable Housing Market

[Celerity]

https://sacramento.cbslocal.com/2021/10/30/sacramento-has-become-nations-least-affordable-housing-market/

SACRAMENTO (CBS13) – Sacramento has topped the list of the least affordable new home markets in the country.

The median new construction home price in the Sacramento region is $650,000. In order to afford the $39,000 down payment, Sacramentans need an income of about $128,000. But the median household income here is just over $76,000.

The housing crisis has reached the rental market as well. Home values in the region jumped 21 percent in the last year.

The typical apartment rent in the Sacramento region is now $1,760 per month. That’s higher than in Seattle, Washington D.C., and New York City.

[Auggie]

1. New construction, not existing houses

Many current listings on Zillow for existing houses and condos in the $350,000-$500,000 range, which is pretty common throughout California's Central Valley. "Affordable" 3-4 bedrooms exist—they're just not McMansions.

[Busterscruggs]

2. It's expensive

Because everyone wants to be there. California is the shining example of how a state is properly run. The mid-west should learn from their example, although those ignorant rednecks are brainwashed by the GOP so it'll never happen.