In Bay Area, Only 18% Residents Can Afford Median-Priced Home
by Brian Haagsman
Aug 09, 2018
In the Bay Area, only 18 percent of households could afford to buy a median-priced single-family home, down from 23 percent from the first quarter and 21 percent in the first quarter of last year, according to a California Association of Realtors quarterly survey released Wednesday.

The survey calculates the annual household income needed to make the monthly payment (including mortgage, taxes and insurance) on a median-priced single-family home with a 20 percent down payment and a 30-year fixed-rate mortgage at prevailing rates. It then estimates what percent of households in an area earn that much.