🏦 San Francisco Mortgage Affordability Calculator

Calculate your home buying power in San Francisco. With household incomes among the highest nationally (median $150,000) but home prices exceeding $1.2 million on average, San Francisco represents the most extreme affordability challenge in the US housing market.

Your total annual income before taxes
Annual income of co-borrower (if any)
Car loans, student loans, credit cards, etc.
Annual property tax as % of home value
Private Mortgage Insurance (if down payment < 20%)
Max % of income for housing (28% standard)
Max debt-to-income ratio (36% standard)

San Francisco Mortgage Affordability Overview

San Francisco is among the most expensive housing markets in the world. Median home prices exceed $1.2 million, and even condos average over $800,000. However, tech-sector incomes averaging $150,000+ per household and Prop 13's low property taxes partially offset these extreme prices. The city has also seen some price moderation as remote work has enabled workers to relocate.

Key Factors for SF Buyers

  • Home Prices: Median exceeding $1.2 million for single-family, $800,000+ for condos.
  • Property Taxes: 0.76% under Prop 13, saving thousands compared to high-tax states on these expensive homes.
  • Income: Median $150,000, with many tech workers earning $200,000 to $400,000+ in total compensation.
  • Insurance: Average $2,400, with earthquake insurance (optional but recommended) adding $2,000 to $5,000 more.

Tips for SF Home Buyers

  • Consider the Outer Sunset, Outer Richmond, and Excelsior districts for relatively more affordable options.
  • Look into MOHCD (Mayor's Office of Housing) below-market-rate (BMR) programs for income-qualified buyers.
  • Earthquake insurance is not included in standard policies; evaluate your risk tolerance and budget for it separately.
  • TIC (Tenancy in Common) properties are cheaper than condos but come with shared financing complications.

Frequently Asked Questions

How much house can I afford in San Francisco?

With a $150,000 income and 20% down, buyers can afford approximately $600,000 to $680,000. This is well below the city median, meaning most single-income households cannot afford a median-priced home without significant savings or dual income.

Is it possible to buy on a single income in SF?

Very difficult for median-priced homes. Singles typically look at condos, TICs, or outer neighborhoods. Dual-income tech couples with combined incomes of $300,000+ have more realistic options for single-family homes.

What are BMR units?

Below Market Rate units are affordable housing mandated by the city. They sell at prices well below market to income-qualified buyers, but availability is limited and allocated by lottery.

Should I get earthquake insurance?

It is not required but highly recommended in SF. The California Earthquake Authority offers policies starting around $2,000 per year, with deductibles of 5-15% of coverage. Consider your risk tolerance given the San Andreas and Hayward fault proximity.

Frequently Asked Questions

How much house can I afford in San Francisco?
With a $150,000 income and 20% down, buyers can afford approximately $600,000 to $680,000, well below the $1.2M city median.
Is it possible to buy on a single income in SF?
Very difficult for median-priced homes. Singles typically need to look at condos, TICs, or outer neighborhoods.
What are BMR units?
Below Market Rate units sell at reduced prices to income-qualified buyers, allocated by lottery with limited availability.
Should I get earthquake insurance?
Highly recommended given proximity to major fault lines. CEA policies start around $2,000/year with 5-15% deductibles.