How much do you need to make a year to buy a San Diego home – $250K? Nope – more.

A home for sale in Tierrasanta File photo staff Times of San Diego Just of the state s households could afford to purchase a median-priced existing single-family home in California in the first quarter of That s up from in the fourth quarter of but unchanged from a year ago the California Association of Realtors reported Friday Home prices are startling in San Diego and even more so in other California counties In San Diego County a minimum annual income of was needed to qualify for the purchase of a median-priced million existing single-family home in the first quarter of According to CAR of residents can afford to do so Meanwhile in Los Angeles County a minimum yearly income of was required to purchase an single-family home in first-quarter according to the statement In Orange County CAR revealed an annual income of was needed to buy a million existing single-family home The lowest annual income for a home purchase is in Imperial County where about is needed to buy a median-priced existing home Overall housing affordability in California remained near its all-time low as mortgage rates rose to the highest level in three quarters amid growing economic uncertainty That has left borrowing costs near their all-time highs While the monthly minimum mortgage payment for a median-priced home including taxes and insurance slipped from the end of it jumped from first-quarter The effective mortgage rate also rose from both the previous quarter and the fourth quarter of last year CAR determined Growing concerns of economic uncertainty have created volatility in the past limited weeks Over the next quarter or two rates may continue to fluctuate due to the impact of exchange policies enacted by the White House according to CAR The Federal Reserve informed at their meeting this week that they are holding rates steady and will continue to evaluate the economic system in the months to come The share of California households that could afford a typical condo townhome in first-quarter remained steady at unchanged from the previous quarter and previous year An annual income of was required to make the monthly payment of on the median-priced condo townhome in the first quarter of Compared with California more than one-third of the nation s households could afford to purchase a median-priced home which requires a minimum annual income of to make monthly payments of CAR ascertained Nationwide affordability was unchanged from a year ago In the first quarter of the nationwide minimum required annual income was less than half that of California s for the eighth consecutive quarter