How Much House Can I Afford on a 250k Income in California?
With a 250k income, you're right on target for purchasing a home in California. Financial advisors recommend spending about 3 to 4 times your annual income on a home, which translates to a budget between $750,000 and $1,000,000.
In Los Angeles, the median home price is approximately $950,000, fitting neatly within your target range. This balance ensures a wide variety of quality homes are available to you.
Additionally, other cities like San Diego and Sacramento offer appealing options at ranging from $600,000 to $850,000. With a property tax rate of 0.76%—amounting to roughly $7,220 per year—and a cost of living significantly above the national average, your income comfortably supports homeownership across the state.