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Bay Area Counties Hit Million-Dollar Median Housing Prices

Phil Hall
May 19, 2016
A philanthropic effort co-founded by Facebook CEO Mark Zuckerberg and his wife, Dr. Priscilla Chan, is aiming its financial generosity at those facing eviction in the San Francisco Bay Area

The median price of a single-family home in California’s Santa Clara and Alameda counties hit the seven-digit level in April.

According to a San Jose Mercury-News report, Santa Clara County’s single-family housing carries a median price of $1 million, the first time it went into a million-dollar range. San Mateo County’s median price was $1.2 million, which tied a record level set in May 2015.

For the Bay Area equivalent of affordable housing, Contra Costa County’s median price was $525,000, its highest level in seven years. As a whole, the Bay Area's nine counties experienced a median single-family home price increase last month to $725,000, not far from the July 2007 peak of $738,500.  

And while prices are on the rise, many residents may be on the retreat: a recent poll conducted by the Bay Area Council found more than one-third of the population considering a relocation due to unhappiness with housing costs and lengthy commutes.

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