For 20% of Californians, Housing Takes Half the Paycheck—or More

California’s housing market continues to strain residents' wallets, with 2.7 million households—about 20% of the state’s population—allocating over half their income to housing costs. This “extreme burden” underscores a stark affordability crisis, placing California at the top nationwide for residents grappling with housing expenses.

The contrast with states like Texas and Florida, where a smaller percentage of households face such steep costs, highlights the unique challenges of the California market. From steep property prices to limited inventory, factors converge to make housing an uphill financial battle for many in the Golden State.

For those looking to understand more about how California’s affordability crisis compares to the rest of the U.S., a deeper analysis reveals the trends and potential paths forward in addressing this persistent issue.