Saturday, May 24, 2014

The salary you must earn to buy a home in San Francisco

San Francisco
Mortgage rate: 4.39 percent (jumbo rate)
  • Quarterly change: no change
Home price: $679,800
  • Quarterly change: -0.38 percent
  • YOY change: +14.5 percent
Monthly payment: $3,199.69
Salary: $137,129.55
  • Quarterly change: -$447.58
If it seems odd that the San Francisco metro area, the king of unaffordable housing, has the lowest mortgage rates on our list two quarters in a row, it’s for good reason. The mortgage rate you see here is a jumbo mortgage rate. The jumbo market is so competitive in California that jumbo mortgage rates have actually helped to offset some of those higher costs.  

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