San Jose, San Francisco Rank High on List of Cities Where Millennials Can't Afford a Home - NBC Bay Area
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San Jose, San Francisco Rank High on List of Cities Where Millennials Can't Afford a Home

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    San Jose, San Francisco Rank High on List of Cities Where Millennials Can't Afford a Home
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    FILE PHOTO: Fountain outside the Fairmont Hotel in San Jose, Calif.

    The median annual Millennial income is not enough to buy a home in San Jose or San Francisco.

    According to U.S. Census Bureau data analyzed by Bloomberg, San Jose is the No. 1 most unaffordable city to buy a home for people aged 18-34.

    California dominated the top five, with San Francisco (#2), Los Angeles (#3), San Diego (#4), and Sacramento (#5) all sitting over the traditionally astronomical real estate market in New York.

    The report found that Millennials in San Jose would need to earn an additional $80,162 per year in order to afford an average home mortgage in the city. In San Francisco, that number falls to $60,975.