Analysis: Home affordability in Alameda County tanks

Alameda County had the lowest home affordability index in California in the third quarter, according to an analysis of 440 counties by ATTOM Data Solutions.

The county scored a 76 in home affordability in the analysis, which concluded that home affordability around the country has been decreasing. The counties studied had populations of at least 100,000 and had 100 or more third-quarter home sales.

A median-value home in Alameda County costs $850,000.

The report determines the affordability number based on the household income needed to purchase a median-priced home in the county compared to historical data. An index under 100 indicates affordability is decreasing.

The county’s affordability index declined 15 percent over the same period in 2017.

“The continued slowdown in the rate of home price appreciation nationwide and in many local markets is a rational response to worsening home affordability — which has deteriorated at an accelerated pace this year due to rising mortgage rates,” said Daren Blomquist, senior vice president at ATTOM Data Solutions.


California counties with lowest home affordability indexes

CountyQ3 2018 Median Sales PriceQ3 2017 Affordability IndexQ3 2018 Affordability IndexYoY % Change In Affordability Index
Alameda$850,000 8976-15%
Santa Clara$1,190,000 9981-18%
Contra Costa$615,000 9381-13%
San Mateo$1,375,000 9584-12%
Napa$675,000 10086-14%
San Joaquin$354,250 9586-9%
Sacramento$350,100 9586-9%
Santa Cruz$775,000 10387-16%
Los Angeles$610,000 9687-9%
Sonoma$610,000 9587-8%
San Francisco$1,349,000 10088-12%
Marin$1,100,000 10188-13%
Orange$715,000 9889-9%
San Diego$570,000 9989-10%
San Bernardino$315,000 10089-11%
Riverside$370,000 9990-9%
Stanislaus$305,000 10290-12%
Ventura$593,500 9991-8%
Monterey$553,500 9791-6%
Solano$429,500 10291-11%
Kern$225,750 10291-11%
Merced$263,000 10392-11%
Shasta$266,500 11093-15%
Fresno$260,000 10093-7%
San Luis Obispo$593,000 10194-7%
Placer$470,000 10494-10%
Tulare$220,000 10394-9%
El Dorado$465,000 10295-7%
Butte$288,000 10395-8%
Yolo$420,000 10899-8%
Kings$214,000 110100-9%
Madera$246,000 113101-11%
Santa Barbara$510,000 104102-2%
Humboldt$297,250 115104-10%
Source: ATTOM Data Solutions

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