The Most Outrageous Housing Market in America
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The Most Outrageous Housing Market in America

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There are overheated housing markets, and then there is the San Francisco Bay Area – that rarified piece of the planet that is the home of so many high-tech companies and the incubator for hundreds more.

Related: The States With the Hottest Housing Markets Heading into 2017

Using data from Zillow, The Mercury News calculates that the median down payment for a house in the San Jose metro area (which includes Santa Clara and San Benito counties) is an astronomical $192,320 – or slightly less than the median price for an entire home in the rest of the nation, $192,500.

The paper says that to come up with a 20 percent down payment, “The average buyer in the San Jose metro area… must set aside 182 percent of his or her annual income — nearly two years’ worth of salary.”

Getting a piece of the American dream is a bit more doable a little further north in the San Francisco metro area (which includes San Mateo, Alameda, Contra Costa and Marin counties): The Mercury says you only have to shell out $164,920 – the median down payment, or 180 percent of the average income.

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In much of the U.S., the Mercury noted, you can make a bid for a new home if you have $40,000, which is about 20 percent of the median price.

Of course, you still have to qualify for a mortgage.