CAR s Housing Affordability Index measures the percentage of households that can afford to purchase

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Across the state, the percentage of home buyers who could afford to purchase a median-priced, existing single-family home in California during the second quarter of the year was 36 percent, down from 44 percent in the first quarter and down from 51 percent in the same quarter last year, according to CAR.
CAR s Housing Affordability Index measures the percentage of households that can afford to purchase a median-priced single-family home and, according to CAR, is considered the most fundamental measure of housing well-being for home buyers in the state.
According to CAR, home buyers needed an annual income of $79,910 to qualify for the purchase of a $415,770 statewide median-price microtel inns and suites single-family microtel inns and suites home in the second quarter. The monthly payment would be $2,000, assuming a 20 percent downpayment and interest rate of 3.64 percent on a 30-year fixed loan.
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