Compared to other states, CA has uber-high median home prices — coupled with much smaller lots and smaller houses
As everyone knows, buying a home in California is MUCH more expensive than buying a home in almost all the other states. Generally we compare states using the “median home value.” According to Zillow, the July 2020 median home value in the U.S. is $248,857. The CA median home value is $578,857. BTW, the median home value in my San Diego County is $628,519. https://www.zillow.com/san-diego-county-ca/home-values/
CA has 11% of all the homes in America. If we take these CA homes out of the national average, then the median home price is the other 49 states is only $208,143. Thus the median CA home costs 2.78 times more than a median home in the other 49 states. But it’s actually worse than that. There’s two other factors to consider that seldom are … Read More