Putting a roof over your head in the Golden State doesn’t come cheap. Even with the second-highest unemployment rate in the country (after Nevada) and one of the highest rates of home foreclosures, California still remains among the most expensive states in the country to live in. The median home value here is 1.8 times the national average.
and the HUD-defined fair-market rate for a modest two-bedroom unit plus utilities is about $1,360 (compared to $960 nationally). The state has six of the top 10 most expensive home-buying markets in the country and five of the top 10 rental markets. Continue reading