It's not just in San Francisco where home buying is expensive, many of the surrounding cities and towns -- like Sausalito, Berkeley and Daly City -- are extremely pricey as well.
Buying a home here would be made even harder if it weren't for the size of residents' paychecks. San Francisco is one of only a handful of metro areas where the median household income exceeds six figures thanks, in part, to its thriving tech sector. The area continues to spawn innovative social media and app companies, with Twitter, Instagram and Yelp among the recent successes to call the city home.
Yet while the sky-high paychecks make it easier for some people to afford the multimillion dollar asking prices in San Francisco, it's a much harder proposition for others who are pulling in a more modest wage.
New residents are flocking to these 10 cities, which added the largest number of residents last year, according to Census Bureau.
|Overnight Avg Rate||Latest||Change||Last Week|
|30 yr fixed||4.01%||4.04%|
|15 yr fixed||3.11%||3.18%|
|30 yr refi||4.00%||4.03%|
|15 yr refi||3.11%||3.16%|
Today's featured rates:
|China's fastest-growing cities for millionaires|
|Google files First Amendment court case against NSA surveillance secrecy|
|Chrysler relents, agrees to recall 2.7 million Jeeps|
|Immigration bill could cut deficits by $175 billion - CBO|
|Why Apple's new MacBook Air is the ultimate road warrior's notebook|