Los Angeles County isn't know for its affordability, but compared with the Bay Area, it's much more attainable.In eight of the nine Bay Area counties, homebuyers must earn more than $100,000 annually to qualify for the purchase of a median-priced, single-family home.Somewhat surprisingly this is not the case in Los Angeles County, where buyers must earn $96,420, according to a California Association of Realtors (CAR) index.Bay Area home affordability With a minimum qualifying income of $71,200, Solano County represents the only Bay Area county where a buyer that earns less than $100,000 annually can afford the area's median-priced home, which sits at $356,000.CAR estimates that 45 percent of California households could qualify for the purchase of a single-family home in Solano County and that their monthly payments would be $1,780. The payment figure assumes a buyer puts 20 percent down and utilizes a 30-year, fixed-rate loan with an interest rate of 4.07 percent. ...
- Solano and Contra Costa counties remain the most affordable in the Bay Area.
- CAR's findings for Los Angeles County should be taken lightly.
- CAR's affordability findings assume buyers can put 20 percent down.