Prop 37’s reach would be broad but short of all who might potentially take advantage
SOURCES: 5-year American Community Survey 2024 microdata from IPUMS USA (income and tenure); Federal Housing Finance Agency (2024 county conforming loan limit); U.S. Department of Housing and Urban Development (2024 area median income, adjusted for family size).
NOTES: Cell entries are calculated for renters. Numbers assume the money is distributed around the state proportionate to the number of potential buyers in each area. To match the restrictions of Proposition 37, qualified renters must not have moved into California in the last year. Median incomes and conforming loan limits for small counties are aggregated to the PUMA level as averages, weighted by population (median income) and housing unit (loan limits) for the sake of merging into IPUMS data. Maximum purchase price is the 125% of area conforming limit allowed under Proposition 37. Entry-level price is the 10th percentile home value in the area as reported by homeowners in the American Community Survey’s 5-year data for 2024. “Potential” is defined as those who could afford a 7% 30-year fixed mortgage with 20% down and payments not exceeding 36% of monthly income, (Fannie Mae’s maximum debt-to-income ratio for all debt). For the sake of this calculation, the Proposition 37 second mortgage is part of the debt owed.
FROM: PPIC Blog, October 2026. 