SLO County ranked third least affordable place to live
March 11, 2014
San Luis Obispo County is ranked third on the list when it comes to being the least affordable small market place to live in the United States, according to a study conducted by the National Association of Home Builders.
Of the metro markets with populations of 500,000 and less evaluated in the study, only Santa Cruz-Watsonville and Salinas were ranked less affordable than SLO.
The study focuses on median incomes and median home prices.
According to the study, SLO County’s median home price during the fourth quarter of 2012 was $424,000. With an average county family income of $70,900, only 28.7 percent of the homes in San Luis Obispo County were affordable to county families during that time.
Kokomo, Ind., with 96.3 percent of homes sold in the fourth quarter being affordable to those earning the median income of $60,100, was rated the most affordable place to live in the country.