Income needed to buy a Bay Area home has doubled since 2012

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The income needed to buy a median-priced home in the Bay Area has more than doubled since 2012.

That striking bit of news comes from a second-quarter report by the California Association of Realtors. It shows that a minimum income of $90,370 was required five years ago to purchase a median-priced single-family home of $447,970 in the nine-county Bay Area. Today, in the wake of substantial job growth, particularly in the tech industry, the minimum necessary income has climbed to $179,390 while the median price has ratcheted up to $895,000 for the region.



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