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Visalia has most affordable homes in CA

1.30.19

Visalia has the most affordable homes in the state, according a new study.

As reported by ABC 30 and the San Francisco Gate, real estate listing site HomeArea.com looked at 142 California cities with a population of 60,000 or more and calculated the "median multiple" for each city.

The median multiple, a metric recommended by the United Nations and the World Bank that compares local home prices with local incomes and helps economists determines a region's affordability, is the ratio of the median house price by the median gross household income.

Visalia's median multiple is a 3.6, placing it in the number one spot for most affordable homes in California. 

As noted by the SF Gate, a median multiple under 3.0 is considered affordable, essentially indicating that average homes cost about three times the typical annual salary, before tax. The figure for the state as a whole is 7.1, and it keeps rising.

Visalia's population is 133,010 and the city is the county seat and largest city of Tulare County. 

Rounding out the top ten two other Central Valley cities make the cut, with Clovis and Bakersfield included.

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