Archive for the ‘Housing’ Category

Which Neighborhood In San Francisco Has the Highest Average Income?

March 3, 2015

What neighborhood has the highest average income in the City of San Francisco? Surprisingly, it’s not the well-known neighborhoods in the Northern part of San Francisco like Pacific Heights, Presidio Heights, Cow Hollow or the Marina. It’s actually West Twin Peaks and Noe Valley, both in the Southern part of the city. We would surmise this has something to do with the explosion of wealth in Silicon Valley and the desire of dot-commers to live in San Francisco. Worth noting is Portrero Hill and Bernal Heights, also in the Southern part of the city and also with significant average income.

Of course, if you go North to Marin or South to San Mateo County, you will find neighborhoods with substantially higher average incomes.

Image 1 - San Francisco, Marin & San Mateo Average Income Map

Image 1 – San Francisco, Marin & San Mateo Average Income Map

Image 2 - San Francisco Area Census Data

Image 2 – San Francisco Area Census Data

— Data Source: ACS (American Community Survey)

— Compiled by: Staff at Webster Pacific

New Home Value Indicies Show Owners Over-Value Homes during a Crisis

November 4, 2014

Quicken Loans released two new indices, the ‘Home Value Index’ and the ‘Home Price Index,’ as depicted in the graph above.  These indices reveal that homeowners overvalue their homes in times of economic crisis. This can be seen in the graph where home values are significantly overstated by homeowners during the 2008-09 financial crisis. The opposite effect is seen when the market is rebounding:  homeowners tend to undervalue their homes.

–From Quicken Loans Press Room

Gentrification Highly Correlated to Neighborhood Racial Composition

August 7, 2014

The likelihood of gentrification is dependent on many variables, but one major indicator is racial composition. The likelihood of a neighborhood drops dramatically if more then 40% of the neighborhood is black. Likewise, neighborhoods with fewer than 35% white residents were significantly less likely to have gentrified between 1996 and 2009. Gentrification, it seems, can reinforce old borders of inequality.

–from The Atlantic’s CityLab

Middle Class Housing in the US

May 14, 2014

Only 14% of houses are available to the middle class and 25% of those in New York, while 86% of Akron, OH homes are available to them. This study uses the median household income for the city with 31% of income going towards the mortgage.

–from The Atlantic Cities

Cash Sales of Homes at All-Time High of 43%

May 9, 2014

The percent of US homes purchased with cash has reached an all-time high of 42.7%. This is nearly double the amount in the beginning of 2011.

–from RealtyTrac

Net Migrations in the US, by County

February 7, 2014

Red counties show the largest county-wide gains in people between 2007 and 2011. California’s Inland Empire along with must of Nevada, Arizona, and Florida saw gains along with many counties housing large Universities. Click through for detailed migration maps for specific cities include Phoenix, Los Angeles, and Philadelphia.

–from The Atlantic Cities

Home Prices Quickly Rising in the US

February 3, 2014

The US may be in the early stages of another rapid rise in home prices. The rent index, the dark blue line, has increased roughly 3% continuously since the 1980’s. Home prices, however, are climbing quickly–even faster that in the lead up to the housing crisis.

–from The Atlantic

Largest Land Owners in the US

January 15, 2014

The largest land owners in the US own 33 million acres, or 1.5% of all the land in the country. Most of these families are in forestry or ranching. The largest land owner, John Malone, has holdings the size of Puerto Rico.

–from Visual-statistix

American and Canadian Migration Patterns in 2013

January 13, 2014

This map shows how many people moved into, or out of, a given state or province last year. Many of the richest states with low unemployment rates lost people last year. This pattern is certainly unusual, and The Atlantic wrote up an interesting analysis.

–from The Atlantic

Home Equity Will Soon Be More Valuable than Mortgage Debt

January 9, 2014

For the first time since the US housing bubble burst, home equity is about to grow larger than mortgage debt. So, in sum, mortgages are no longer underwater. This obviously is not the case for many individual mortgages, but still bodes well.

–from The Economist