Creative Paths to Homeownership Grow in LA, Orange Counties

Housing affordability declined in Los Angeles and Orange counties due to higher mortgage rates and rising home prices. In Los Angeles County, 17% of households could afford the median-priced home at $879,900, requiring an income of $219,200. Orange County affordability dropped to 15% for a $1.485 million home, needing $370,000 income. Statewide affordability fell to 19%, with a median home price of $916,750 and a required income of $228,400.