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The Madera Tribune

California home prices rise

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webmaster | 08/11/12

Central Valley is still the most affordable

Home prices rose across California between the second and first quarters of 2012, but the Central Valley is still the most affordable place in the state to live, according to the California Association of Realtors.

In Madera County, the median home price jumped from $111,820 in the first quarter to $129,000 in the second quarter.

Still, 74 percent of households can afford that price assuming they can get a monthly payment of $640 through financing, said Esther Riffel, president of the Madera Association of Realtors.

“The minimum qualifying income for that median price home is $25,450,” she said...


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