San Jose Real Estate * REALTOR ® * Richard Gonzalez » entry 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 Entry Level Affordability Index Rises to 49% in Silicon Valley http://Siliconvalleybrokerblog.com/2009/02/25/entry-level-affordability-index-rises-to-49-in-silicon-valley/ http://Siliconvalleybrokerblog.com/2009/02/25/entry-level-affordability-index-rises-to-49-in-silicon-valley/#comments Wed, 25 Feb 2009 15:00:28 +0000 Richard Gonzalez http://www.siliconvalleybrokerblog.com/?p=98 An interesting new statistic was recently released by the California Association of REALTORS showing Santa Clara County affordability index has climbed from 24% to 49%. Yet another indication that REO(bank owned properties) and Short Sales are making home ownership in Silicon Valley a legitimate option.  Take a look  at the C.A.R. chart below.

C.A.R. Region

Housing

Affordability Index

Entry-Level Price

Monthly Payment Including Taxes & Insurance

Minimum

Qualifying Income

California

59

$248,030

$1,630

$48,900

California – Condos

65

$210,830

$1,380

$41,400

United States

72

$153,090

$1,000

$30,000
High Desert

76

$125,080

$820

$24,600
Los Angeles County

46

$301,110

$1,970

$59,100
Monterey Region

58

$265,700

$1,740

$52,200
Northern California

56

$241,410

$1,580

$47,400
Northern Wine Country

53

$300,890

$1,970

$59,100
Orange County

48

$395,100

$2,590

$77,700
Palm Sprgs/Lwr Desert

65

$159,310

$1,040

$31,200
Riverside/SBernardino

70

$171,060

$1,120

$33,600
Sacramento County

74

$159,750

$1,050

$31,500
San Diego County

56

$282,910

$1,860

$55,800
San Francisco Bay

47

$414,070

$2,720

$81,600
San Luis Obispo County

44

$317,330

$2,080

$62,400
Santa Barbara Area

55

$269,380

$1,770

$53,100

Santa Clara County

49

$446,250

$2,930

$87,900

Southern California

58

$248,380

$1,630

$48,900
Ventura County

58

$333,480

$2,190

$65,700
County \ \ \ \
Alameda

48

$369,050

$2,420

$72,600
Contra Costa

35

$540,050

$3,540

$106,200
Fresno

70

$140,000

$920

$27,600
Marin

29

$709,420

$4,650

$139,500
Merced

79

$101,850

$670

$20,100
Riverside

71

$168,640

$1,110

$33,300
San Bernardino

70

$166,540

$1,090

$32,700
San Francisco

30

$570,660

$3,740

$112,200
San Mateo

37

$559,300

$3,670

$110,100
Santa Cruz

43

$391,000

$2,560

$76,800
Sonoma

56

$295,600

$1,940

$58,200

Source: California Association of REALTORS

Methodology of First Time Homebuyers Data

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