Report: The annual income needed to afford a home in LA County is $127K
LOS ANGELES - To be able to afford a home in L.A. County, you will need to make at least $127,000 per year. That's according to a new report from the California Association of Realtors.
The association says the median price of a home in L.A. County is nearly $650,000, which means a monthly payment will run you about $3,200.
The association found for most SoCal residents this is unattainable.
The new report says the numbers are about the same throughout the state except in the Bay Area.
The annual salary needed to afford a home in San Francisco County is $309,600 for a $1.58 million dollar home.