SANDAG estimates that there are 37,333 households in the county with gross incomes of $200,000 or more inflation-adjusted 1999 dollars (around $255,000 today)
In your example, the buyer could put extra $20,000 down to get rid of PMI. Without HOA or MR, his/her monthly payment would be “only” $5,238/month. Traditional standards call for housing payments less or equal to 36% of gross income, making the house affordable to households making more than 12*5,238/0.36 = $175,000. There are probably around 100,000 of those.
