How Affordable is Housing in the North Bay Counties?
In a recent study, California’s Association of Realtors (C.A.R.) measured the percentage of households that can afford to purchase a median-priced, single-family home in California. This index is considered the most fundamental measure of housing well-being for home Buyers in the state. Here are their findings for the North Bay Counties as of Q3/2021:
- Median Home Price: $930,000
- Monthly Payment incl. taxes & insurance: $4,230
- Minimum Qualifying Income: $169,200
- Median Home Price: $765,000
- Monthly Payment incl. taxes & insurance: $3,480
- Minimum Qualifying Income: $139,200
- Median Home Price: $352,000
- Monthly Payment incl. taxes & insurance: $1,600
- Minimum Qualifying Income: $64,000
- Median Home Price: $554,000
- Monthly Payment incl. taxes & insurance: $2,520
- Minimum Qualifying Income: $100,000
If you’re in need of a mortgage loan, but do not qualify for a conventional loan from a bank or financial institution, consider a privately funded loan from the Investors at Sun Pacific Mortgage. Call us at 707-523-2099 to discuss your options or visit our website at www.sunpacificmortgage.com.
The content of this blog contains general advice only and does not consider individual financial circumstances, desired loan amounts or existing real estate or lending transactions. This information is intended for licensed Real Estate Agents and licensed Lenders/Mortgage Brokers and is posted on our company website and specific blog sites with the express purpose of reaching such licensed individuals.