It’s now cheaper to rent than buy in all 50 of the top metros nationwide, per Bankrate. Average CA home 20x average salary by 2030

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Average CA Home Price To Soar To 20 Times The Average Salary By 2030, Study Finds

CALIFORNIA — California is projected to be the third most expensive state to buy a house in 2030, according to a recent study.

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The study, conducted by SmartSurvey, analyzed Zillow house prices for 2012 to 2022 alongside income data from the U.S. Bureau of Labor Statistics to predict the home-cost-to-income ratio for each state.

With a projected average house price of $1.24 million and a predicted salary of $60,712, homes in California are predicted to cost 20.4 times more than the typical income by 2030, the study said.

The Golden State was ranked between Nevada, which was expected to be second most expensive with projections of a $1.04 million average house price and $48,369 typical income, and Utah, which was predicted to be fourth with an average house price of $1.12 million and salary of $56,787.

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