California’s Down Payment Wait: 14.7 Years

California households now need 14.7 years to save a 20% down payment on a typical home priced at $776.2K, with median income at $105.6K.
California ranked near the top nationally, and a minimum-wage earner saving alone would need 44.2 years to reach the same down payment target.
Geography limits expansion: the Pacific blocks growth westward, while mountains and protected land squeeze housing into coastal corridors where land carries a premium.
A long-running tax rule encourages owners to stay put, while strong job growth in technology and health care keeps drawing residents needing homes.
Wage growth would need to outpace home-price growth for years before California's saving timeline improves, making long-term planning especially important for first-time buyers.