A new survey affirms something most people know in the Tri-Counties. The region is a very expensive place to live.
New research shows the Oxnard-Thousand Oaks-Ventura metro area ranks at the very bottom of the list of mid-sized metropolitan areas when it comes to finding an affordable starter home.
The website Construction Coverage ranks the metro 80th and last on its list, with the median price of a three-bedroom home at $740,000. Not far behind is the Santa Maria-Santa Barbara metro, which ranked 76th out of 80 on the affordability index.
By comparison, the survey shows the most affordable mid-sized metro is Beaumont-Port Arthur Texas, with the median price for a three-bedroom house at $167,000. The study also shows that the home ownership rate for those under 35 in the Oxnard-Thousand Oaks-Ventura metro area is at 5.5%.