California rapidly running out of jobs, cheap housing as state dominates US cities study

Cities across California are bleeding both jobs and affordable housing, a new study says.

The Golden State dominates the top 10 of a new list from MoneyLion ranking 46 U.S. cities where jobs and affordable homes are increasingly hard to come by.

California shamefully claims every spot but one in the list’s top 10, which ranked cities using factors including average home value, average monthly rent, July 2026 MSA unemployment rate, labor force participation rate and median household income.

A whopping 32 California cities made the list, accounting for 69% of the rankings. MoneyLion researchers drew from data on the nation’s 250 largest housing markets.

Irvine topped the list with an average home value of $1.7 million, average rent of $3.500, and an unemployment rate of 5%. The SoCal city has a labor force participation rate of 67%, and a median household income of $136,000.

The top five was rounded out by Modesto, Fontana, Huntington Beach and Rancho Cucamonga.

Bellevue, Washington, is the sole non-California entry in the top 10. The tech hub has an average home value of $1.6 million and an unemployment rate of 5.7%.

California’s major cities also ranked. Los Angeles came in at No. 15, with an average home value of $1 million and an unemployment rate of 5%. Just below it at No. 16 was San Diego, which has an average home value of $1.1 million and an unemployment rate of 4%.

Other non-California cities on the list include Seattle (No. 30), Saratoga, Florida (No. 39), Sugar Land, Texas (No. 40), Gilbert, Arizona (No. 42), and Worcester, Massachusetts (No. 43). The Florida cities of Saint Petersburg (No. 44) , Tampa (No. 45), and Clearwater (No. 46) also ranked.

A separate analysis revealed that California has the lowest rate of job openings in the country. The September analysis from WalletHub showed that the state’s job openings rate was just 3.6%.

On the housing front, California’s home prices have grown 441% since 1984, while inflation only grew 210%.

The state’s housing crisis is also driving poverty, according to a new analysis by the Pew Charitable Trusts. High housing costs account for 30% of all poverty in California and 36% of child poverty, the analysis found.

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