Average home price in LA, Orange counties 10 times average income: report

LOS ANGELES - Buying a home in California doesn't come cheap, and some places are more expensive than others. 

Take Los Angeles and Orange counties, for example. 

In those two Southern California counties alone, the average home costs about 10 times the average income, according to a new report from Harvard University's Joint Center for Housing Studies.

But skyrocketing home prices aren't limited to those two counties only - even in more "reasonable" housing markets outside major metro areas, the home prices are way above the national average of homes, which is typically about five times larger than incomes, the report found.

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According to data, the Inland Empire's home prices are about six times larger than earnings. 

To read the full study, tap or click here.