[quote=moneymaker]When was the last time an average household income in San Diego could afford a new SFH? Currently average HH income is $63,400 which if you use the 5 times income rule would translate into a house that sells for $317k. I know you can get a condo/mobilehome/RV for that but the question is when was the last time average person could afford a new SFH?
http://www.lao.ca.gov/reports/2015/finance/housing-costs/housing-costs.aspx%5B/quote%5D
Just doing a quick calculation the rule seems about right. Assuming that you made the average after tax and insurance you’re looking at around 30% debt to income assuming a 30/30 fixed at 4%