Affordable Housing

Housing Affordability Index


Housing affordability in San Joaquin County fluctuates based on economy, housing prices, housing availability, etc. This table shows the percent of California and NSJV county households that can afford a median-priced home. Naturally, a higher percent of NSJV households can afford their first homes than in California, as median home prices elsewhere in California are higher than in the NSJV. Stanislaus County has the most affordable homes for first-time buyers. Merced County homes are also affordable, while a lower percent of San Joaquin County households can afford a first home. This affordability index has decreased everywhere since 2014, reflecting rising home prices. CBPR obtained data from the California Association of Realtors (CAR), presented quarterly; quarter percentages were averaged to obtain the annual indices. (Source: UOP CBPR Index).

Average first-time home buyer affordability index


   2016  2017  2018 (Q1-Q3)
 San Joaquin County  54.8%  60.5%  56.7%
 Merced County  67.5%   62.3%  60.7% 
 Stanislaus County  66.5%  64.8%   64.3%
 California  50.8%  48.0%  46.7%

This graph shows the percent of underwater mortgages in the U.S., California, and San Joaquin County. Signifying more is owed on a mortgage than the house is currently worth, underwater mortgages peaked during the Great Recession, when plummeting housing prices made amounts owed on mortgages for recently purchased homes much larger than the houses’ values. The percent of 2011–2012 underwater mortgages in San Joaquin County was significantly higher than in California and the U.S. However, in 2014–2016, this percent dipped to below 15% with California and the U.S., due to increasing home values (Source: UOP CBPR Index & Zillow research).