California real estate costs in 2025
📉 Housing Affordability: A Crisis Deepens
As of first-quarter 2025, only 17 % of California households could afford the median-priced single-family home, priced at approximately $846,830. The minimum qualifying annual income needed: about $218,000 .
In fourth-quarter 2024, affordability stood at 15 %, even with a slightly higher median price of $874,290 and required income of roughly $220,000
By comparison, the median household income in California is about $80,000, leaving the vast majority—85 % or more—effectively priced out .
🏠 Price Trends: Median Home Costs & Regional Breakdown
June 2025 saw the statewide median for existing single-family homes at approximately $899,560, barely down from May, and nearly flat year-over-year (‑0.1 %) .
Condo and townhome median price was around $670,000, down 3.9 % year-over-year and showing modest cooling.
Regional median home prices:
Bay Area: $1.4M, unchanged mid‑year
Southern California: ~$876,840,…
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