Posted by Staff Writer on 10/31/2021 to
Real Estate
California City Real Estate Unaffordable
Sacramento top the USA List
IncSmart California (Small Business and Startups) - Sacramento has the most unaffordable housing market in America. Real estate companies complain of the housing shortage as the spike in housing costs.
What this means to the average home buyer in Sacramento, is they are being kept from the market. As it stands today, the average new home price in the city is over $650,000. In real terms, that means a salary of $128,000 and the down payment of $39,000 is needed to get into a new home. According to the United States Census, the medium average income per household in Sacramento is $76,000.
Written by IncSmart Staff
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