San Jose Real Estate * REALTOR ® * Richard Gonzalez » 2010 » September http://Siliconvalleybrokerblog.com Living in the Silicon Valley - News, Views, and Statistics Fri, 13 Apr 2012 16:10:14 +0000 en hourly 1 http://wordpress.org/?v=3.3.2 What You Need to Earn in Silicon Valley to Buy a Home as of Q2 2010 http://Siliconvalleybrokerblog.com/2010/09/07/what-you-need-to-earn-in-silicon-valley-to-buy-a-home-as-of-q2-2010/ http://Siliconvalleybrokerblog.com/2010/09/07/what-you-need-to-earn-in-silicon-valley-to-buy-a-home-as-of-q2-2010/#comments Tue, 07 Sep 2010 20:45:33 +0000 Richard Gonzalez http://rgonzalez.blogs.rwnetwork.com/?p=1027

The California Association of REALTORS latest report tracks entry level housing requirements for the state of California over the second quarter of 2010. Santa Clara County has slipped slightly in the affordability index from 55% in Q1 2010 to 51% in Q2 2010.

The report also tracks income requirements for entry level housing and monthly  principal, interest, taxes, and insurance (PITI) payments a buyer should budget towards housing. A first time home buyer would need to make a PITI payment of $2,940. This is taking into account a Santa Clara County median purchase price of $535,500.

Read report here

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