San Jose homeowners spend nearly 80% of their income to cover an average mortgage payment, according to new data from real estate company Zoocasa.
The staggering figure further solidifies what many in the region already know: Owning a home in the Bay Area is expensive, really expensive.
Zoocasa's data measuring 75 cities shows San Jose tops the country in how much household income is spent on the average monthly mortgage. San Francisco trails at No. 3 with homeowners in the city spending 65% of their income on mortgage payments. Honolulu, Los Angeles and San Diego make out the top five cities in the Zoocasa analysis.
On the flip side, Pittsburgh and Cleveland homeowners spend around 20% of their income on the average monthly mortgage, according to Zoocasa.
NBC Bay Area business and tech reporter takes a closer look at the new data in his video report above.
#New: Percentage* of household income needed to cover average mortgage payments:
— scott budman (@scottbudman) February 19, 2025
San Jose: 79%
Honolulu: 68%
San Francisco: 65%
Los Angeles: 64%
San Diego: 60%
* HUD: affordable housing means spending less than 30% of income on housing.
-@zoocasa
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