A new report from Harvard University’s Joint Center for Housing Studies quantifies the struggle many face when buying a home in Southern California.
A new report from the center finds that in Los Angeles and Orange Counties, the average home costs about ten times the average income, as reported by the Orange County Register.
Even outside of some of the pricier areas of Southern California, home prices soar above the national average of homes, which is about five times larger than incomes.
The center’s State of the Nation’s Housing report said the Inland Empire’s home prices are about six times larger than incomes.
To read the report for yourself, click here.