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Realtors group says SLO County was least affordable region in first quarter

San Luis Obispo County was the least affordable region in the state in the first quarter of this year, according to the California Association of Realtors' first-time homebuyer affordability index.

The percentage of households that could afford to buy an entry-level home in the county stood at 52 percent, compared with 49 percent in the first quarter a year ago. San Francisco was the second least affordable region at 53 percent.

The High Desert region was the most affordable in California at 84 percent.

Statewide, the affordability index stood at 66 percent in the first quarter, compared to 69 percent in the first quarter of 2009, the association reported. The median price of an entry-level home in California was $246,270 in the first quarter of this year. The minimum household income needed to purchase an entry-level home in the state in the first quarter of 2010 was $41,540. The estimated monthly payment, including taxes and insurance, was $1,380.

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