Spoiler Alert: Fresno / Clovis Real Estate is Affordable! (Phew!)
As prices continue to rise across the board with everything from food to gas, it’s no wonder that real estate prices are rising in many cities across the USA. While this is the case for a large number of cities, there are also certain areas in which prices are decidedly low. Here’s a look at the most un-affordable cities within America and how home prices in Fresno and Clovis stack up against them.
The Six Most Un-affordable Cities that will hurt your piggy bank
Oakland, CA – Though the home of the San Francisco Giants is one California city that may first come to mind, Oakland Athletic fans who choose to live in the nearby Oakland hills area are also highly expensive when it comes to real estate, with a median home value of nearly $450,000, which is over 100 percent more than the national average. Go A’s!!
Los Angeles, CA – Los Angeles is another city in California that is particularly unaffordable. With a median household income of just under $50,000, the exceedingly high median home value of nearly $470,000 is largely galling in its expensiveness.
Boston, MA – Boston becomes more unaffordable with each passing year. The median home value within the city is set at well over $350,000. This, combined with the relatively high cost of living, can make for a bleak outlook. At least they now have the young bat and two year raining Home Run Derby champ Cespedes to be happy about.
New York City, NY – As one of, if not the most, unaffordable cities in America, NYC is also the most populous city in the United States. While the borough of Manhattan is the most expensive for real estate prices, Brooklyn and Queens aren’t much better, while the median home value of the entire city is just over $500,000.
San Francisco, CA – Living in San Francisco is extremely unaffordable, though mitigated a bit by higher household incomes and good chowder. The median home value is likely the highest in the nation, at just over $750,000!!!
Honolulu, HI – As the capital city of Hawaii, Honolulu is much higher than the national average in everything from utilities to transportation, with the median home value sitting at $547,000. I have clients who are relocating from Honolulu to the Madera Ranchos. They tell me that for what they are spending here, $390,000. it would cost them over a million there!
Two Affordable Alternatives – Fresno / Clovis
Fresno, CA – If you want to live in California but don’t want to ‘live’ just to pay your mortgage then Fresno may be the place for you. The median price of homes currently listed in Fresno is $225,000 while the median price of homes that sold is $192,050. You can get a list of some great homes, hand picked by me, sent directly to your inbox… just send an email to Jason@Fresyes.com and tell me what neighborhood you want your future home or investment property in and I will get them to you right away. By the way, here are the latest 3 listings that have hit the market in Fresno:
[idx-listings city=”Fresno” statuses=”1″ propertytypes=”2706″ orderby=”DateAdded” orderdir=”DESC” count=”3″]
Clovis, CA – Just a hop, skip, and a gallop next door to Fresno is the #1 city to raise a family in, Clovis California. The median price of homes currently listed is $325,000 while the median price of homes that sold is $261,310 – Far below the state average! By the way, here are the latest 3 listings that have hit the market in Clovis:
[idx-listings city=”Clovis” statuses=”1″ propertytypes=”2706″ orderby=”DateAdded” orderdir=”DESC” count=”3″]
- Rugby, like FresYes, is a Community - May 17, 2023
- About Fresno Neighborhoods - January 22, 2022
- Eight Day Trips from Fresno - January 14, 2022
The problem is that Fresno’s average median income is also far below the state average, and also the nation’s average, for Fresno it is $41k. I’d love to afford buying a house in Fresno (lived here about 8 years, renting) but currently I make about half the ami, and it’s the best paying job I’ve been able to find here that I was considered qualified for (that’s with a college education and experience).
I love Fresno, I’m here to stay, but don’t tell me how affordable it is when we have some of the highest rates of concentrated poverty of the entire nation.
Jason Farris says
I hear you when it comes to unemployment and wages, its rough out there; Yet we (Fresno), have a Housing affordability score of 150 (a value of 100 means that the typical family can afford a median priced home) and a cost of living 3.4% below the national average. I can’t imagine how tough it would be to buy in areas where the affordability was below 100 or the cost of living was much higher than the average. Thanks for reading Shane!