Anchor ads are not supported on this page.

4S Ranch Allied Gardens Alpine Baja Balboa Park Bankers Hill Barrio Logan Bay Ho Bay Park Black Mountain Ranch Blossom Valley Bonita Bonsall Borrego Springs Boulevard Campo Cardiff-by-the-Sea Carlsbad Carmel Mountain Carmel Valley Chollas View Chula Vista City College City Heights Clairemont College Area Coronado CSU San Marcos Cuyamaca College Del Cerro Del Mar Descanso Downtown San Diego Eastlake East Village El Cajon Emerald Hills Encanto Encinitas Escondido Fallbrook Fletcher Hills Golden Hill Grant Hill Grantville Grossmont College Guatay Harbor Island Hillcrest Imperial Beach Imperial Valley Jacumba Jamacha-Lomita Jamul Julian Kearny Mesa Kensington La Jolla Lakeside La Mesa Lemon Grove Leucadia Liberty Station Lincoln Acres Lincoln Park Linda Vista Little Italy Logan Heights Mesa College Midway District MiraCosta College Miramar Miramar College Mira Mesa Mission Beach Mission Hills Mission Valley Mountain View Mount Hope Mount Laguna National City Nestor Normal Heights North Park Oak Park Ocean Beach Oceanside Old Town Otay Mesa Pacific Beach Pala Palomar College Palomar Mountain Paradise Hills Pauma Valley Pine Valley Point Loma Point Loma Nazarene Potrero Poway Rainbow Ramona Rancho Bernardo Rancho Penasquitos Rancho San Diego Rancho Santa Fe Rolando San Carlos San Marcos San Onofre Santa Ysabel Santee San Ysidro Scripps Ranch SDSU Serra Mesa Shelltown Shelter Island Sherman Heights Skyline Solana Beach Sorrento Valley Southcrest South Park Southwestern College Spring Valley Stockton Talmadge Temecula Tierrasanta Tijuana UCSD University City University Heights USD Valencia Park Valley Center Vista Warner Springs

You're still paying fat percentage of income for your home

Consolation: it's a bit lower than in the pre-bubble years

Because of the startlingly low interest rates (3% to 4% mortgages), Americans are devoting a lower percentage of their monthly income to servicing their mortgages than they were in the pre-bubble years, according to information released by Zillow.com this morning (April 10). Nationally, families spent 12.6% of their income on their mortgage in the fourth quarter of last year, versus 19.9% in the pre-bubble years of 1985-1999. But in coastal California metro areas, homeowners are still shelling out fat portions of their income to service their mortgages. San Diegans, for example, were paying 25% of income in last year's fourth quarter to pay for their mortgages. Sure, that was down from 31.3% in the 1985-1999 years, but that's small consolation. In the fourth quarter, residents of San Jose were shoveling out 29.5% of income to take care of their mortgages. In San Francisco it was 28.8% and Los Angeles 29%. Those were the three highest percentages among the major 30 metro areas. Residents of Dallas, Atlanta, Detroit, Pittsburgh, Cincinnati, Cleveland, and Columbus, Ohio were all paying less than 10% of income to service mortgages in last year's fourth quarter.

Here's something you might be interested in.
Submit a free classified
or view all

Previous article

Croome Brothers Trio, Jack Tempchin, Ricky, Swami & the Bed Of Nails, Kahlil Nash

Acoustic and electric in Del Mar, La Jolla, Little Italy, and City Heights

Because of the startlingly low interest rates (3% to 4% mortgages), Americans are devoting a lower percentage of their monthly income to servicing their mortgages than they were in the pre-bubble years, according to information released by Zillow.com this morning (April 10). Nationally, families spent 12.6% of their income on their mortgage in the fourth quarter of last year, versus 19.9% in the pre-bubble years of 1985-1999. But in coastal California metro areas, homeowners are still shelling out fat portions of their income to service their mortgages. San Diegans, for example, were paying 25% of income in last year's fourth quarter to pay for their mortgages. Sure, that was down from 31.3% in the 1985-1999 years, but that's small consolation. In the fourth quarter, residents of San Jose were shoveling out 29.5% of income to take care of their mortgages. In San Francisco it was 28.8% and Los Angeles 29%. Those were the three highest percentages among the major 30 metro areas. Residents of Dallas, Atlanta, Detroit, Pittsburgh, Cincinnati, Cleveland, and Columbus, Ohio were all paying less than 10% of income to service mortgages in last year's fourth quarter.

Sponsored
Here's something you might be interested in.
Submit a free classified
or view all
Ask a Hipster — Advice you didn't know you needed Big Screen — Movie commentary Blurt — Music's inside track Booze News — San Diego spirits Classical Music — Immortal beauty Classifieds — Free and easy Cover Stories — Front-page features Drinks All Around — Bartenders' drink recipes Excerpts — Literary and spiritual excerpts Feast! — Food & drink reviews Feature Stories — Local news & stories Fishing Report — What’s getting hooked from ship and shore From the Archives — Spotlight on the past Golden Dreams — Talk of the town The Gonzo Report — Making the musical scene, or at least reporting from it Letters — Our inbox Movies@Home — Local movie buffs share favorites Movie Reviews — Our critics' picks and pans Musician Interviews — Up close with local artists Neighborhood News from Stringers — Hyperlocal news News Ticker — News & politics Obermeyer — San Diego politics illustrated Outdoors — Weekly changes in flora and fauna Overheard in San Diego — Eavesdropping illustrated Poetry — The old and the new Reader Travel — Travel section built by travelers Reading — The hunt for intellectuals Roam-O-Rama — SoCal's best hiking/biking trails San Diego Beer — Inside San Diego suds SD on the QT — Almost factual news Sheep and Goats — Places of worship Special Issues — The best of Street Style — San Diego streets have style Surf Diego — Real stories from those braving the waves Theater — On stage in San Diego this week Tin Fork — Silver spoon alternative Under the Radar — Matt Potter's undercover work Unforgettable — Long-ago San Diego Unreal Estate — San Diego's priciest pads Your Week — Daily event picks
4S Ranch Allied Gardens Alpine Baja Balboa Park Bankers Hill Barrio Logan Bay Ho Bay Park Black Mountain Ranch Blossom Valley Bonita Bonsall Borrego Springs Boulevard Campo Cardiff-by-the-Sea Carlsbad Carmel Mountain Carmel Valley Chollas View Chula Vista City College City Heights Clairemont College Area Coronado CSU San Marcos Cuyamaca College Del Cerro Del Mar Descanso Downtown San Diego Eastlake East Village El Cajon Emerald Hills Encanto Encinitas Escondido Fallbrook Fletcher Hills Golden Hill Grant Hill Grantville Grossmont College Guatay Harbor Island Hillcrest Imperial Beach Imperial Valley Jacumba Jamacha-Lomita Jamul Julian Kearny Mesa Kensington La Jolla Lakeside La Mesa Lemon Grove Leucadia Liberty Station Lincoln Acres Lincoln Park Linda Vista Little Italy Logan Heights Mesa College Midway District MiraCosta College Miramar Miramar College Mira Mesa Mission Beach Mission Hills Mission Valley Mountain View Mount Hope Mount Laguna National City Nestor Normal Heights North Park Oak Park Ocean Beach Oceanside Old Town Otay Mesa Pacific Beach Pala Palomar College Palomar Mountain Paradise Hills Pauma Valley Pine Valley Point Loma Point Loma Nazarene Potrero Poway Rainbow Ramona Rancho Bernardo Rancho Penasquitos Rancho San Diego Rancho Santa Fe Rolando San Carlos San Marcos San Onofre Santa Ysabel Santee San Ysidro Scripps Ranch SDSU Serra Mesa Shelltown Shelter Island Sherman Heights Skyline Solana Beach Sorrento Valley Southcrest South Park Southwestern College Spring Valley Stockton Talmadge Temecula Tierrasanta Tijuana UCSD University City University Heights USD Valencia Park Valley Center Vista Warner Springs
Close

Anchor ads are not supported on this page.