When it comes to housing prices, there is a stark difference between California and Spokane, Washington. California, particularly cities like San Francisco and Los Angeles, is known for its high cost of living and sky-high housing prices. On the other hand, Spokane offers a more affordable cost of living and significantly lower housing prices.
In California, the median home price in San Francisco is around $1.4 million, while in Los Angeles it's around $850,000. This is due in part to the high demand for housing in these cities, as well as the limited supply of available homes. Additionally, California has some of the highest property taxes in the country, which can add thousands of dollars to the cost of owning a home.
In contrast, the median home price in Spokane is around $300,000. This is significantly lower than California, and it is due to a number of factors. One reason is that the demand for housing in Spokane is not as high as it is in California, which means that there is a more plentiful supply of homes available at lower prices. Additionally, property taxes in Washington are generally lower than in California, which can save homeowners thousands of dollars over the life of a mortgage.
Another factor that contributes to the difference in housing prices between the two states is the difference in the cost of living. California has a higher cost of living than Washington, which means that people need to earn more money to afford the same lifestyle. As a result, people in California often have to spend more money on housing, even if they are looking for a home in a more affordable area.
In summary, the difference in housing prices between California and Spokane is significant, with the median home price in California reaching millions of dollars, while in Spokane is around $300,000. This is due to a combination of factors, including high demand and limited supply in California, lower property taxes in Washington and difference in the cost of living. While California is known for its high cost of living and sky-high housing prices, Spokane offers a more affordable cost of living and significantly lower housing prices.