Fast Facts

Here are some quick facts about housing affordability in San Jose and Santa Clara County:

As of late 2007, only 15.5% of the homes are affordable to people making the median income in San Jose. (National Association of Homebuilders)
A Santa Clara County household would need to earn an annual income of $170,352 to afford the median-priced home of $700,000. (California Budget Project, “Locked Out 2008: the Housing Boom and Beyond”)
Renters would need to earn $20.69 per hour at a full-time job in order to afford the fair market rent of $1,076 for a one-bedroom apartment home. (California Budget Project, “Locked Out 2008: the Housing Boom and Beyond)
California has the second-most-expensive rental housing in the nation forcing more than 40,300 households to pay over half of their income for housing. (Housing Silicon Valley: Affordable Housing Production and Finance in Santa Clara County and Locked Out 2008: The Housing Boom and Beyond)
There is an estimated unmet need of 28,000 housing units for extremely low-income households earning less than $28,650 annual income for a family of three. (Housing Silicon Valley: Affordable Housing Production and Finance in Santa Clara County)
In December 2004, the Santa Clara County homeless survey counted 7,646 homeless individuals in the streets and shelters; 11% had children with them under the age of 18.
A first-time homebuyer in Santa Clara County will have to earn a minimum annual income of $143,700 compared to $35,100 nationwide. (Santa Clara County Association of REALTORS®)

For statewide information, refer to the Public Policy Institute of California’s CA 2025, Housing in California. (pdf) report.

Bay Area Census. Oakland, CA. A project of the Metropolitan Transportation Commission (MTC) and the Association of Bay Area Governments (ABAG). Statistics by state, county, and city. Information on housing, jobs, transportation, gender, age, and ethnicity. Importantly, they also have figures on historical demographics

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