Income, Affluence, Poverty & the Cost of Housing: Housing Affordability in the San Francisco Bay Area
The California Association of Realtors just released its Housing Affordability Index (HAI) for the 2nd quarter of 2016, which measures the percentage of households that can afford to buy the median priced single family dwelling (house).
In this analysis, affordability is affected by 3 major factors: median house price, mortgage interest rates, and household income. (Housing Affordability Index Methodology). The HAI uses house prices exclusively and if condos were included in the calculation,
