With a 150k income, homeownership in California might be more challenging, especially in Los Angeles. Financial advisors recommend spending about 3 to 4 times your annual income on a home, setting your budget between $450,000 and $600,000.

However, the median home price in Los Angeles is approximately $950,000, which exceeds your maximum affordability range. This suggests that the major market may be less accessible at your current income level.

That said, more affordable options may be found in other areas such as San Diego and Sacramento, where prices average ranging from $600,000 to $850,000. California has a property tax rate of 0.76%, or roughly $7,220 per year on an average home. Considering a cost of living significantly above the national average, you might need to explore alternative locations or financing strategies to meet your homeownership goals.