A recent analysis highlights that San Jose currently has the highest average home price in the nation at $1.89 million, requiring an income of $461,000 annually to afford it.
Oxford Economics' study reveals that the average homeowner in San Jose can only afford their median home's price if they earn $461,000, making homeownership unattainable for 90% of residents.
The annual pay needed for homeownership in San Jose has surged significantly—doubled from pre-pandemic levels, aligning with rising housing costs that have rendered it the least affordable metro.
Only 10% of San Jose’s population can currently afford to buy a home at its median price, illustrating a stark divide in homeownership capabilities within the community.
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