Median House Still Beyond 6 Families in 7

Only one in seven families could afford the median-priced house in Orange County in August.

That was the same as July, the California Assn. of Realtors reported Wednesday, despite a slight drop in the median price of a house during August.

In both months, only 14% of the county’s families could afford a house with a median price tag. The median was $247,641 in August and $249,060 in July, or 0.6% more. Last year, when the median house price was $210,394, 22% of families could afford a house.

At August’s price, a family needed an income of $81,580 to meet monthly mortgage payments of $2,039, assuming a 20% down payment.

Orange County was not the most expensive housing market in the state in August. That was San Francisco, where the median price of a house was $272,016 and only 10% of families could afford it.

Across the state, only 17% of California’s families could afford the median-priced house.