Zillow Reports on San Jose and San Francisco

According to a new Zillow analysis, to comfortably afford a home mortgage in San Jose you would need an income of $454,296, and in San Francisco, $339,864. This report only confirms what everyone already knows, i.e. that Bay Area housing is really expensive.

The analysis goes on to state that owning a home in these cities requires an income increase of 80% over 2020. Unfortunately, median income has only risen 23% in that time.

It’s no wonder that half of first-time buyers say at least part of their down payment came from a gift or loan from family or friends.

There are seven markets among major metros where a household income must be $200,000 or more to comfortably afford a typical home. The top four are in California: San Jose, San Francisco, Los Angeles, and San Diego.

Just some more facts & figures to prove real estate remains a strong investment – for new homebuyers, for investors and for anyone interested in investing in deeds of trust which are backed by real estate equity. It’s a good time to be an investor.

Best,

Ken & Ari Walker - Your Direct Private Money Source

Husband & Wife Team

Phone: 707-708-0797 / Office: 1400 N. Dutton Ave #22 Santa Rosa, CA 95401
Ken: CA DRE Broker #01858042 / NMLS #1221130
Ari: CA DRE #01858152 / NMLS #2170867

Bio: Ken & Ari are a husband & wife team with over 30 years of combined real estate and private money lending experience. They like working with buyers & borrowers, as well as directly with other licensed individuals who have clients in need of fast & alternative financing, and who can benefit from Private Money mortgages. (Qualify for our financing despite DTI ratios, credit score, property condition, difficult to prove income, etc. on purchases and refinances for owner occupied & investment properties.)