Three Valley municipalities are among the most affordable places to live in California, according to a recent study by financial firm SmartAsset.
Madera Acres took the San Joaquin Valley’s top spot, coming in at No. 2 in the state.
The unincorporated community located just north of Madera scored 49.39 in SmartAsset’s affordability index, which was compiled by looking at the five-year cost of owning a house compared to the median income of the area.
For comparison, California City took the state’s top spot with a 50.01 score, out of 100.
Madera Acres had pricier costs than much of the top 10 with $2,716 in average closing costs, $1,435 in annual property tax, $535 in annual homeowner’s insurance and an average annual mortgage payment of $9,797.
The overall high ranking for Madera Acres came because of its relatively high median income, which is $88,482.
Coalinga came in second in the San Joaquin Valley and ranked fifth in the state for affordability.
The western Fresno County city saw its average closing costs come in at $2,434, annual property tax is $1,494, annual homeowner’s insurance is $388 and the average annual mortgage payment totaled $7,107.
Coalinga’s median income measured at $62,522.
Coming in at 9th, Tulare County-based Orosi rounded out the San Joaquin Valley’s representation in the top 10.
Orosi had its average closing costs total $2,311, annual property tax of $1,278, annual homeowner’s insurance of $344 and the average annual mortgage payment came in 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 Homeowner’s Insurance Avg. Annual Mortgage Payment Median Income Affordability Index 1 California City, CA $2,223 $1,263 $284 $5,202 $49,022 50.01 2 Madera Acres, CA $2,716 $1,435 $535 $9,797 $88,482 49.39 3 Imperial, CA $2,741 $2,150 $547 $10,023 $85,654 45.76 4 Ridgecrest, CA $2,460 $1,864 $411 $7,533 $69,577 44.77 5 Coalinga, CA $2,434 $1,494 $388 $7,107 $62,522 44.31 6 Barstow, CA $2,200 $977 $267 $4,892 $40,633 44.06 7 Homeland, CA $2,250 $1,230 $356 $6,530 $49,180 42.05 8 Spring Valley Lake, CA $2,934 $2,736 $641 $11,744 $84,727 41.49 9 Orosi, CA $2,311 $1,278 $344 $6,296 $40,667 39.52 10 Taft, CA $2,377 $2,080 $334 $6,121 $45,197 39.03 California $3,206 $3,216 $943 $17,288 $75,235
