The median house price in S.F. has jumped 103% since Q1 2012 to $1.35M in July, as the city continues to struggle with affordability despite efforts to increase access. In addition, the median condo price has jumped 74% to $1.125M. (Condos include one-bedroom and smaller units.) The Census Bureau puts the median household income at $75,604 in 2013, though it has risen since. The Housing Affordability Index (HAI) for Q2, just released by the California Association of Realtors, shows that only the top 10% of households in S.F. can afford to buy a median house—despite historically low mortgage rates. [BI]
S.F. Housing Crisis Getting Out Of Control
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Related Topics:
Affordable housing
, California Association of Realtors
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