Three Valley Municipalities Among Most Affordable Places to Live in California, Recent Financial Firm Study Finds SmartAsset.
Madera Acres took the top spot in the San Joaquin Valley, ranking # 2 in the state.
The unincorporated community just north of Madera scored 49.39 on the SmartAsset Affordability Index, which was compiled by looking at the cost of owning a home over five years versus the cost of owning a home over five years. median income of the region.
By comparison, California City took the state’s top spot with a score of 50.01, out of 100.
Madera Acres had higher costs than most of the Top 10 with $ 2,716 in average closing costs, $ 1,435 in annual property tax, $ 535 in annual home insurance, and an average annual mortgage payment of $ 9,797.
Madera Acres’ high overall ranking is due to its relatively high median income, which is $ 88,482.
Coalinga came second in the San Joaquin Valley and fifth in the state for affordability.
The West County city of Fresno saw its average closing costs of $ 2,434, annual property taxes of $ 1,494, annual home insurance of $ 388 and the average annual mortgage payment of $ 7,107.
Coalinga’s median income measured at $ 62,522.
Coming in ninth place, Tulare County-based Orosi completed San Joaquin Valley’s representation in the top 10.
Orosi had his average closing costs totaling $ 2,311, an annual property tax of $ 1,278, annual home insurance of $ 344 and the average annual mortgage payment was relatively low at $ 6,292.
Orosi also had one of the lowest median incomes at $ 40,667.
| Rank | city, state | Avg. Closing costs | Annual property tax | Annual home insurance | Avg. Annual mortgage payment | Median income | Affordability Index |
| 1 | City of California, California | $ 2,223 | $ 1,263 | $ 284 | $ 5,202 | $ 49,022 | 50.01 |
| 2 | Madera Acres, California | $ 2,716 | $ 1,435 | $ 535 | $ 9,797 | $ 88,482 | 49.39 |
| 3 | Imperial, California | $ 2,741 | $ 2,150 | $ 547 | $ 10,023 | $ 85,654 | 45.76 |
| 4 | Ridgecrest, California | $ 2,460 | $ 1,864 | $ 411 | $ 7,533 | $ 69,577 | 44.77 |
| 5 | Coalinga, California | $ 2,434 | $ 1,494 | $ 388 | $ 7,107 | $ 62,522 | 44.31 |
| 6 | Barstow, California | $ 2,200 | $ 977 | $ 267 | $ 4,892 | $ 40,633 | 44.06 |
| 7 | Homeland, california | $ 2,250 | $ 1,230 | $ 356 | $ 6,530 | $ 49,180 | 42.05 |
| 8 | Lake Spring Valley, California | $ 2,934 | $ 2,736 | $ 641 | $ 11,744 | $ 84,727 | 41.49 |
| 9 | Orosi, California | $ 2,311 | $ 1,278 | $ 344 | $ 6,296 | $ 40,667 | 39.52 |
| ten | Taft, California | $ 2,377 | $ 2,080 | $ 334 | $ 6,121 | $ 45,197 | 39.03 |
| California | $ 3,206 | $ 3,216 | $ 943 | $ 17,288 | $ 75,235 |
