San Jose Real Estate * REALTOR ® * Richard Gonzalez

The very first question most home-buyers ask is “How much do I have to earn to buy a home in Santa Clara County?”. The answer may be found in the California Association of REALTORS 2009 Fourth Quarter Housing Affordability Index report.

• 52% of Santa Clara County residents currently qualify based on current housing prices and personal incomes.
• The Chart below shows that you have to bring home a combined total of $85,200 in order to make an average payment of $2,840(taxes and insurance included).
• Based on this criteria you should be able to purchase a home on an average sales price of $497,250.

There are more affordable homes in Santa Clara County and as such you can qualify for less. Consult your banks loan officer or mortgage broker to pre-qualify yourself.

Click here to read C.A.R.’s full report