The Bay Area is the Least Affordable Area in the State: Report - NBC Bay Area
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The Bay Area is the Least Affordable Area in the State: Report

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    The Bay Area is the Least Affordable Area in the State: Report
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    SAN FRANCISCO, CA - JULY 17: San Francisco's famed "Painted Ladies" are seen from Alamo Square Park on July 17, 2014 in San Francisco, California. According to a report, the median price of new or existing single-family homes and condos reached $1.5 million. (Photo by Justin Sullivan/Getty Images)

    Five out of nine counties in the San Francisco Bay Area experienced a decline in affordability in 2017. San Francisco, San Mateo and Santa Clara counties are the least affordable areas in the state, according to a report from the California Association of Realtors.

    Only 12 percent of San Francisco residents can afford to purchase a median home priced at $1.5 million while 14 percent can afford San Mateo’s median home price of $1.5 million and 15 percent afford a home in Santa Clara at $1.2 million, according to the report.

    The California Association of Realtors reported that as a state, California has a median single-family home price of $550,990. Making the Bay Area significantly more expensive than other areas in California.

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