No 'Affordable' And 'Desirable' Counties In California: Study

CALIFORNIA — There are no growing counties in California with affordable housing, according to a recent analysis by MoneyGeek.

MoneyGeek created a list of 20 growing counties where housing is still affordable, and no counties in California made the cut. In fact, no counties in the Western United States landed on the list.

The Southeast U.S. dominated the list, with 13 out of 20 of the "affordable" and "desirable" places in that part of the country, according to MoneyGeek. More counties in South Carolina made the list than counties in any other state.

Clayton County, Georgia, landed at the top of the rankings. The median income is $30,502 and the median home price is $185,811 in Clayton County, according to the study.

Although no counties in California made the cut, four areas in the Golden State count as "runners-up," according to MoneyGeek. These include Placer, Riverside, San Joaquin and Yolo counties.

MoneyGeek analyzed price appreciation since 2019 and homeownership costs as a percentage of median income to determine the list. The analysis looked at counties with populations larger than 250,000 that experienced population growth above the national average. Counties were deemed "affordable" and "desirable" if their populations were growing faster than the national average and their home values were still appreciating.

Several factors have led to sky-high housing prices in the country, according to MoneyGeek.

"The COVID-19 pandemic exacerbated labor shortages and supply chain delays, which led to slower residential home construction," the report said. "As a result, home prices skyrocketed, leading to higher mortgage payments and home insurance costs on newly purchased properties. Other factors contributing to high home prices and housing demands include increasing rates of remote work — driving people to move to larger homes — and historically low mortgage rates."

These are the 20 most affordable and desirable counties, according to MoneyGeek: