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Alameda County Housing Affordability Drops

Housing affordability in Alameda County dropped in the third quarter. (East Bay Real Estate Directory)

Housing affordability in Alameda County dropped in the third quarter. (East Bay Real Estate Directory)

Housing affordability in Alameda County dropped in the third quarter, according to the latest data from the California Association of Realtors.

The association’s Traditional Housing Affordability Index for Alameda County dropped from 25 in the second quarter of this year to 21 in the third quarter; it was 34 in the third quarter of last year.

An index value of 21 means that 21 percent of home buyers could afford to purchase a median-priced, existing single-family home, in the measurement area.

For the third quarter, the median home price in Alameda County was $652,920, and the corresponding minimum qualifying income was $134,170. Monthly payments, including taxes and insurance, would be roughly $3,350.

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