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How Affordable is Housing in the North Bay Counties?

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:

NAPA

  • Median Home Price:  $930,000
  • Monthly Payment incl. taxes & insurance:  $4,230
  • Minimum Qualifying Income:  $169,200

SONOMA

  • Median Home Price:  $765,000
  • Monthly Payment incl. taxes & insurance:  $3,480
  • Minimum Qualifying Income:  $139,200

LAKE

  • Median Home Price:  $352,000
  • Monthly Payment incl. taxes & insurance:  $1,600
  • Minimum Qualifying Income:  $64,000

MENDOCINO

  • 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.

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