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In the San Jose-Sunnyvale-Santa Clara metropolitan area, there are 30 available and affordable housing units for every 100 extremely low-income households below 30% of the area median income. There are 43 available and affordable units for every 100 low income households below 50% of the area median income. [4]
In San Mateo and Santa Clara counties, buyers would require a minimum income of $504,400 and $451,200, respectively, to purchase median-priced homes of $2.01 million and $1.8 million. [16] [17] The housing situation affects individuals differently, depending upon their circumstances.
It is another big milestone in the Bay Area housing market: The median price of a single-family home in Santa Clara County hit $2 million for the first time. So what is driving the surge? Realtors ...
Half of those units, or 1,201, will be designated as below-market rate housing for low and very low-income residents. [9] The project was approved on September 21, 2018 for streamlining under SB 35. In October 2018 the City Council approved, and residents then filed a referendum on, another Vallco project by the same developer—the 2018 Vallco ...
In July, the housing market had a 4.0-month supply of housing inventory, a 19.8 percent improvement over last year but still below the 5 to 6 months needed for a healthy, balanced market — one ...
Some have paid well over $500,000 for homes — even $1 million-plus in instances — while others pay market-rate rents that can exceed $1,800 a month for one-bedroom apartments and $2,400 for ...
The homeowner vacancy rate was 1.2%; the rental vacancy rate was 4.2%. 7,162 people (90.4% of the population) lived in owner-occupied housing units and 707 people (8.9%) lived in rental housing units. The median household income was $219,485 and the median family income was $224,922. Males had a median income of $152,361 versus $89,216 for females.
2024 was a tough year for the U.S. housing market. Here’s what experts predict for 2025. ... While that is still below the 5 to 6 months typically needed for a balanced market, it’s a ...
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