Homeownership Affordability – San Francisco Gets A Zero In The Affordability Index

Homeownership Affordability - San Francisco Gets A Zero In The Affordability Index

Homeownership Affordability – San Francisco Gets A Zero In The Affordability Index

Where Can People Afford Homes In the Affordability Index?

Continuing our look at the recently released housing affordability numbers from The Center for Housing Policy, the study found that for more than 70 percent of the metro areas studied, the income needed to buy a median-priced home dropped by three percent or more over the last year. That drop occurred due to a combination of many foreclosed homes hitting the market after long delays, low interest rates and other local factors. Interestingly, in 20 percent of the communities examined, the income needed to purchase a median-priced house held relatively steady, and 21 metro areas, or 10 percent of the areas studied, saw increases of three percent or more.

Some markets (like here in the San Francisco Bay Area) run counter to the overall trend of homeownership becoming more affordable. In 21 of the metro areas studied, the income needed to afford a median-priced home increased by three percent or more between the first quarter of 2011 and the first quarter of 2012.

In the Paycheck to Paycheck research looking at Homeownership Affordability, the Metropolitan areas ranked from least to most affordable, based on the number of occupations out of 74 that earn enough to afford a median-priced home.

San Francisco remained in the top spot with a ZERO affordability index and zero percent mark.

Napa, Santa Cruz and San Jose tied for third with a 1 affordability index and a 1 percent mark

Down the lower end of the scale Merced CA came in 184 with 57 affordability index and a 77 percent level.

Homeownership Affordability – San Francisco Gets A Zero In The Affordability Index

Homeownership Affordability – San Francisco Gets A Zero In The Affordability Index

Homeownership Affordability – San Francisco Gets A Zero In The Affordability Index

Homeownership Affordability – San Francisco Gets A Zero In The Affordability Index

Homeownership Affordability – San Francisco Gets A Zero In The Affordability Index

Homeownership Affordability – San Francisco Gets A Zero In The Affordability Index

Homeownership Affordability – San Francisco Gets A Zero In The Affordability Index

Homeownership Affordability – San Francisco Gets A Zero In The Affordability Index

Homeownership Affordability – San Francisco Gets A Zero In The Affordability Index

Homeownership Affordability – San Francisco Gets A Zero In The Affordability Index

Homeownership Affordability – San Francisco Gets A Zero In The Affordability Index

Homeownership Affordability – San Francisco Gets A Zero In The Affordability Index

Homeownership Affordability – San Francisco Gets A Zero In The Affordability Index

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Filed under California, San Francisco, San Jose

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