San Pablo, CA housing market

What this means

• Valuation. Prices are roughly in line with local incomes (+6% vs. this area's pre-2020 price-to-income norm).
• Prices. Home values are down 1.4% over the past year (U.S.: +1.2%), 16% below their 2022-23 peak.
• Affordability. A mortgage on the typical home takes 51% of the median household income (U.S.: 35%); it takes about $136k a year to keep the payment at 30% of gross pay. That includes about $1,924 a year for home insurance (U.S.: $1,790).
• Buy vs. rent. Buying costs about $1,175/mo more than renting a typical home (mortgage payment vs. typical rent).