Where Fresno ranks on Housing Affordability Index

The median terms of a location was listed astatine $374,000. Fresno's median household income is astir $64,000.

FRESNO, Calif. (KFSN) -- The online existent property hunt portal RealtyHop besides tracks trends.

In its latest Housing Affordability Index, Fresno ranked 41st among large cities successful the US.

Sacramento, successful the 44th position, was somewhat rated arsenic the much affordable city.

"Fresno's close adjacent the mediate of the pack, to beryllium honest," says RealtyHop CEO Lee Lin. "I deliberation we're seeing the cities wherever affordability is getting perfectly atrocious are precisely these areas wherever radical who person a batch of savings oregon wealthiness tin conscionable travel successful and support bidding up existent estate."

Lin says existent property investors proceed to find Fresno appealing due to the fact that of little location prices compared to the remainder of the state.

"With our study, we look astatine the income of the area, truthful we look astatine median Fresno incomes and median Fresno location prices," Lin said.

The median terms of a location was listed astatine $374,000. Fresno's median household income is astir $64,000.

RealtyHop calculated Fresno location buyers would request to walk 41% of their yearly income to bargain a house.

"That's a small connected the precocious side, to beryllium honest," Lin said. "So it is trickling up, which is not great."

Lin says indebtedness officers similar buyers instrumentality steps to little their indebtedness to income level.

"They thin to usage what they telephone the 'front ratio,' which is conscionable the owe and the location that you're trying to buy, should not beryllium much than 33%," Lin said.

When you adhd your 'back ratio,' including indebtedness from recognition cards and cars, Lin says you don't privation that fig to apical 40% of your yearly income.

Twelve of the apical 20 cities connected that Housing Affordability Index were successful California.

Los Angeles, Miami and Irvine went one, 2 and 3 among the slightest affordable cities.

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