Southern Californians need to make $200,800 to buy a home

Southern Californians need twice the annual income of a U.S. homebuyer to qualify for a typical house.

A $200,800 income is required to buy the region’s $785,000 median-priced, existing single-family home in the first quarter, according to affordability stats from the California Association of Realtors.

My trusty spreadsheet found this mortgage-qualifying standard has grown by $54,800, or 38%, since 2022’s first quarter. That’s when the Federal Reserve started its war on inflation with rate hikes.