Sacramento Update

Only the elites can afford a home in #California

Restaurant workers, teachers, first responders – even doctors – are getting priced out of California, and home-ownership is beyond the reach of many, according to a nationwide housing survey from the real estate listing service Trulia.

Trulia analyzed state and national housing trends comparing median salary data from the Bureau of Labor Statistics to median home price. San Francisco, Los Angeles and San Diego ranked among the least affordable places across the state.

In Sacramento, virtually no homes are affordable for restaurant workers, whose median annual income of roughly $24,000 per year compares to a median home listing price of $449,000.

The percentage of homes available for service industry workers came in at about 1 percent.

For teachers, roughly 32 percent of homes in Sacramento are considered affordable.

Just over 42 percent of homes are considered affordable for first responders such as police officers and firefighters.

For doctors, roughly 90 percent of homes are affordable.

In San Francisco, 41.57 percent of homes were considered affordable for doctors.

It was less than three percent for first responders and teachers, and zero for restaurant workers.

The picture was just as bleak in Los Angeles.

But hey, the elites have plenty of nice places to live. Nice going California.

Read the whole story in the Sacramento Bee

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Categories: Sacramento Update

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