Median income: $94,300
Affordability score: 20.6%
Home prices have been in steady decline in the Bay area since the second quarter of 2006, when the median house sold for $769,000, according to the NAHB-Wells Fargo Housing Opportunity Index.
Even though median income, at $94,500, is among the highest in the nation, the median price of $575,000 during the last three months of 2008 meant only 20.6% of homes sold were affordable for the typical San Francisco metro area family.
Unlike most California housing markets, San Francisco's has, so far, managed to avoid a widespread foreclosure problem; only 7,200 households had foreclosure filings last year, fewer than 1% of all households. Still, that's double the rate of 2007.
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