Home Affordability

Percentage of Potential First-Time Home Buyers That Can Afford to Purchase a Median-Priced Home

Santa Clara and San Mateo Counties, and Other California Regions

Data Source:

California Association of Realtors

Analysis:

Silicon Valley Institute for Regional Studies

Data are from the California Association of Realtors’ (CAR) First-time Buyer Housing Affordability Index, which measures the percentage of households that can afford to purchase an entry-level home in California based on the median price of existing single family homes sold from CAR’s monthly existing home sales survey. Beginning in the first quarter of 2009, the Housing Affordability Index incorporates an effective interest rate that is based on the one-year, adjustable-rate mortgage from Freddie Mac’s Primary Mortgage Market Survey.

*2016 data reflects Q1-3.

Resources for Relevant Data and Reports (show)

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