Quote:
Originally Posted by homebucket
Thought this was an interesting perspective, since recently we were talking about the Bay Area and its astronomical housing prices, but taking into account the astronomical income, it's not as insane as one might think.
Here's how SF and some other Bay Area cities fared. Just for fun, I thought I'd add Chicago since it's commonly viewed here as the standard for housing affordability.
7. San Francisco, CA
Household income - $126,117
Home price - $1,338,000
Share of income - 66.56%
11. Oakland, CA
Household income - $82,649
Home price - $798,000
Share of income - 60.85%
15. San Jose, CA
Household income - $122,914
Home price - $1,100,000
Share of income - 55.76%
16. Fremont, CA
Household income - $149,563
Home price - $1,338,000
Share of income - 55.14%
47. Chicago, IL
Household income - $64,367
Home price - $359,900
Share of income - 38.36%
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It's not realistic to use simple median hh income as the measuring stick for buying a home imo.
Largest Cities by Median Income, Two-Earner Families, 2021:
San Francisco, CA $225,209
Washington, DC $210,935
Seattle, WA $209,584
San Jose, CA $187,105
Atlanta, GA $154,796
Oakland, CA $154,164
Austin, TX $148,172
Portland, OR $136,785
Denver, CO $136,463
San Diego, CA $135,250
Minneapolis, MN $128,211
Chicago, IL $125,139
Boston, MA $123,063
Raleigh, NC $120,420
Charlotte, NC $117,751
Tampa, FL $115,930
New Orleans, LA $114,297
Sacramento, CA $113,028
Virginia Beach, CA $112,876
Albuquerque, NM $112,871
Colorado Springs, CO $111,887
New York, NY $111,374
Long Beach, CA $110,675
Baltimore, MD $108,168
Los Angeles, CA $107,376
Fort Worth, TX $107,145
Nashville, TN $103,460
Kansas City, MO $101,544
Philadelphia, PA $101,490
Phoenix, AZ $99,164
Dallas, TX $98,194
Mesa, AZ $97,851
Indianapolis, IN $96,477
Louisville, KY $96,159
Jacksonville, FL $95,185
Las Vegas, NV $94,890
Oklahoma City, OK $94,445
Fresno, CA $92,472
Columbus, OH $92,103
Houston, TX $91,117
San Antonio, TX $85,713
Memphis, TN $84,433
Milwaukee, WI $81,537
Miami, FL $78,978
Tucson, AZ $77,366
El Paso, TX $75,708
Detroit, MI $70,590
Here's all cities included in the 2021 census estimates $150k+
City, State, Median Income, 2-Earner Families, 2021(MSA):
$150,000+
Bethesda, MD $250,000+(Washington)
Dublin, CA $250,000+(San Francisco)
Mountain View, CA $250,000+(San Jose)
Palo Alto, CA $250,000+(San Jose)
Newport Beach, CA $248,622(Los Angeles)
Fremont, CA $245,994(San Francisco)
Sunnyvale, CA $240,997(San Jose)
San Ramon, CA $235,951(San Francisco)
Redwood City, CA $233,391(San Francisco)
Santa Clara, CA $228,644(San Jose)
San Francisco, CA $225,209(San Francisco)
Arlington, VA $217,128(Washington)
Berkeley, CA $215,139(San Francisco)
Pleasanton, CA $214,380(San Francisco)
San Mateo, CA $213,306(San Francisco)
Milpitas, CA $211,074(San Jose)
Washington, DC $210,935(Washington)
Seattle, WA $209,584(Seattle)
Santa Monica, CA $206,028(Los Angeles)
Davis, CA $203,589(Sacramento)
Naperville, IL $200,763(Chicago)
Livermore, CA $197,772(San Francisco)
Alameda, CA $195,078(San Francisco)
Walnut Creek, CA $192,438(San Francisco)
Alpharetta, GA $191,488(Atlanta)
Johns Creek, CA $190,644(Atlanta)
Folsom, CA $190,425(Sacramento)
Thousand Oaks, CA $188,462(Oxnard)
Carmel, IN $186,769(Indianapolis)
Highlands Ranch, CO $186,266(Denver)
San Jose, CA $187,105(San Jose)
Redondo Beach, CA $186,052(Los Angeles)
Mission Viejo, CA $183,384(Los Angeles)
Alexandria, VA $180,851(Washington)
Carlsbad, CA $180,139(San Diego)
Castro Valley, CA $179,453(San Francisco)
Evanston, IL $178,662(Chicago)
Yorba Linda, CA $178,496(Los Angeles)
Irvine, CA $174,196(Los Angeles)
Lake Forest, CA $173,909(Los Angeles)
Pasadena, CA $173,380(Los Angeles)
Chino Hills, CA $169,211(Riverside)
Centennial, CO $163,696(Denver)
Union City, CA $163,058(San Francisco)
Sandy Springs, GA $163,008(Atlanta)
Roseville, CA $162,963(Sacramento)
Boulder, CO $162,011(Boulder)
Stamford, CT $160,169(Bridgeport)
Huntington Beach, CA $158,421(Los Angeles)
Fishers, IN $157,663(Indianapolis)
San Marcos, CA $156,507(San Diego)
Atlanta, GA $154,796(Atlanta)
Columbia, MD $154,206(Baltimore)
Oakland, CA $154,164(San Francisco)
Torrance, CA $154,111(Los Angeles)
Norwalk, CT $153,946(Bridgeport)
Arlington Heights, IL $151,778(Chicago)
Tustin, CA $151,679(Los Angeles)
Broomfield, CO $151,017(Denver)
Scottsdale, AZ $150,737(Phoenix)