The average County Board of Supervisor’s (BOS) annual wage in Shasta County is $54,600 per year for representing over 180,000 people, compared to Humboldt County BOS pay of $77,000+ representing 132,000 people.
According to the Humboldt Association of Realtors, the Median Household Income for Humboldt as of March 2009 was $41,328 and the average home is $264,950. Only 23% of residents in Humboldt Qualify to buy a house.
Redding's housing affordability in the first quarter reached its highest level in 10 years, a national index reported this week. The National Association of Home Builders/Wells Fargo Housing Opportunity Index showed that nearly two-thirds of all homes sold in the first quarter were affordable to families earning Redding's Median Household Income of $55,700. The median sales price in the first quarter (January through March) was $180,000.
Area affordability in Shasta hasn't been so high since the first quarter of 1999, when it hit 67.6 percent and the median sales price was $105,000. The area's median income 10 years ago was $37,500. At the same time in Humboldt median home sales price were at $121,420 and median wages $31,300. The affordability index was 49%.
Affordability in Redding reached its low during the second quarter of 2006, when a mere 11.3 percent of the homes sold were attainable to residents. Back then, the median price was $280,000 and the median income was $49,000. Compare that to Humboldt at a home median price of $312,333 at the same period in 2006, and the median income was $38,222. The affordability index was 12%.
What exactly does Shasta have over us? We do have a port, timber, dairy and fishing? We have agriculture lands and lots of pot growing? Where is the Humboldt County missing link? Why does Shasta seem to support 2 huge Wal-Mart’s, Home Depot and other big box chain stores? And chain restaurants? Red Lobster, Logan’s Roadhouse, In and Out Burger, Cattleman’s, Outback, Dairy Queen and the list goes on.
How come the average household in Shasta makes over $14,000 more than a family in Humboldt? And they don't even have a State University! Why do we have a 1% population growth and Shasta nearly 8%? What are your takes?
THE MAY ECONOMIC INDEX IS IN! - From the hardworking crew at HSU, the May stats are in. Lowest unemployment in YEARS! Read the whole report HERE.
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