Housing
Vacancy - 6.2%
The San Francisco-Santa Rosa, CA Market ranks 156th in Vacancy across STI Markets with a Vacancy rate of 6.2%. That is 143,862 Vacant Housing units compared to 2,189,137 Occupied units.
Average Home Value - $1,298,498
The Average Home Value for owner occupied housing units in the San Francisco-Santa Rosa, CA Market is $1,298,498. This ranks 2nd across STI Markets. Over the last 2 years there has been a change of 0.9% in this markets Average Home Value, compared to a national change of 9.9%. This 2 year change in home values ranks 162nd across STI Markets.
Figure 55: Home Value 2year History
Mortgage Risk Level - Extremely High
Mortgage Risk is defined as the ratio of recent residential loan amount to income for new home purchases. The Mortgage Risk for the San Francisco-Santa Rosa, CA Market is 4.1. The market subsequently ranks 7th across STI Markets. This is considered to be a Extremely High level of mortgage risk.
Affordability Level - Steep
Overall Affordability can be classified in a similar fashion, comparing the Markets Average Home Value with the Average Household Income. This Affordability ratio currently sits at 7.2. The San Francisco-Santa Rosa, CA Market therefore earns the Steep classification for housing affordability and ranks 6th across STI Markets. The following chart shows how markets compare between these two measure. Note the breaks between affordability classifications are 3, 5, and 7.
Figure 60: Affordability Comparision
