What's the median and spread on household income in Sacramento? (Los Angeles: mortgage, loans)

[inpd]

I keep on seeing conflicting numbers reported.
Can anyone point to an official source?

Also suppose the median household income is $100K
Does anyone have any facts/knowledge on the spread?
For example is 75% of household incomes below $150K.

I'm raising this since banks are now tightening up on lending
practices and going back to pre early 90's "only lend you 3 times your annual
salary and allow repayments of 33% of gross monthly salary".

Knowing this will help determine whether your over-capitalizing
in an area.

[BearBranch]

Actually in Sacramento the median household income is around 45k for the city 50k for the county:

Sacramento CA (California) ZIP codes, schools, jobs, demographics & more

[volleyballer]

[quote=BearBranch;2075717]Actually in Sacramento the median household income is around 45k for the city 50k for the county:

Sacramento CA (California) ZIP codes, schools, jobs, demographics & more[/QUOTE

Sorry, but if you go to that website, you'll find that the data is from the 2000 census. I don't know what the median income spread is, but that data has no value. Seven years ago, most of us did not live here.

[BearBranch]

Okay then,

Here are #'s listed from 2005 from city-data.com

Estimated median household income in 2005: $44,867 (it was $37,049 in 2000)

Sacramento $44,867
California: $53,629

[inpd]

Originally Posted by BearBranch

Okay then,

Here are #'s listed from 2005 from city-data.com

Estimated median household income in 2005: $44,867 (it was $37,049 in 2000)

Sacramento $44,867
California: $53,629

Your kidding right? The median is $44K per household?
Sacamento is packed with $500K homes, how on earth to people
afford them?

[volleyballer]

Originally Posted by inpd

Your kidding right? The median is $44K per household?
Sacamento is packed with $500K homes, how on earth to people
afford them?

Here's what I found on the HUD (Housing and Urban Development) website:
Basically, the median income is projected to be over $67,000 for Sacramento County. But I still don't know how families making that money can afford a house. Bottom line is they can't. Sadly, these families are the ones that are very much pushed out of the housing market.

FY 2007 Income Limits Documentation System -- Median Income Calculation for METRO40900M40900*0606799999+Sacramento County

[volleyballer]

Here's the state median incomes broken down into MSA (Metro Statistical Areas). Interesting info.

http://www.huduser.org/Datasets/IL/IL07/ca_fy2007.pdf

[CEO]

Originally Posted by inpd

Your kidding right? The median is $44K per household?
Sacamento is packed with $500K homes, how on earth to people
afford them?

If you want to live in the newly built, upscale homes then you will pay 500k. Otherwise, Sacramento housing cost if relatively lower. It is affordable if you and your spouse both work and make a decent salary.

But the new construction neighborhoods are expensive and most consist of people not from Sacramento moving in such as people from the Bay Area.

[18Montclair]

We can do this.

I have data for all 4 of California's Major Metropolitan Areas from the US Census Bureau, American Factfinder 2006

Los Angeles-Long Beach-Riverside, CA CSA
Median Family Income: $61,901
Total Families: 3,945,569
Families Earning under $25,000 annually: 688,392
Families Earning $25,000-$49,999 Annually: 893,698
Families Earning $50,000-$74,999 Annually: 749,893
Families Earning $75,000-$99,999 Annually: 530,564
Families Earning $100,000-$199,999 Annually: 843,052
Families Earning $200,000+ Annually: 239,970

Sacramento-Arden Arcade-Roseville, CA-NV CSA
Median Family Income:$67,415
Total Families: 544,776
Families Earning under $25,000 annually: 74,803
Families Earning $25,000-$49,999 Annually: 118,903
Families Earning $50,000-$74,999 Annually: 108,846
Families Earning $75,000-$99,999 Annually: 84,526
Families Earning $100,000-$199,999 Annually: 131,191
Families Earning $200,000+ Annually: 26,507

San Diego, CA MSA
Median Family Income: $69,099
Total Families: 684,841
Families Earning under $25,000 annually: 96,798
Families Earning $25,000-$49,999 Annually: 145,756
Families Earning $50,000-$74,999 Annually: 128,822
Families Earning $75,000-$99,999 Annually: 98,262
Families Earning $100,000-$199,999 Annually: 168,367
Families Earning $200,000+ Annually: 46,836

San Jose-San Francisco-Oakland, CA CSA
Median Family Income: $83,673
Total Families: 1,667,370
Families Earning under $25,000 annually: 191,987
Families Earning $25,000-$49,999 Annually: 278,395
Families Earning $50,000-$74,999 Annually: 276,004
Families Earning $75,000-$99,999 Annually: 244,357
Families Earning $100,000-$199,999 Annually: 503,728
Families Earning $200,000+ Annually: 182,899

Median Family income in CAs 4 Largest Metro Areas by racial group

Los Angeles-Long Beach-Riverside, CA CSA
Median Black Family Income $51,762
Median Asian Family Income $73,841
Median Hispanic Family Income $44,257
Median White Family Income $84,753

Sacramento-Arden Arcade-Roseville, CA CSA
Median Black Family Income $50,717
Median Asian Family Income $67,182
Median Hispanic Family Income $46,937
Median White Family Income $75,265

San Diego, CA MSA
Median Black Family Income $46,185
Median Asian Family Income $77,707
Median Hispanic Family Income $44,425
Median White Family Income $83,869

San Jose-San Francisco-Oakland, CA CSA
Median Black Family Income $50,115
Median Asian Family Income $91,278
Median Hispanic Family Income $52,748
Median White Family Income $100,210

[inpd]

18Montclair, your the man (or woman). Just what I wanted!
I had been those $44K figures others posted and it didn't make sense.

Using a standard mortgage calculator, if you borrow $500K your monthly
payments are about $3K. Now if you have just $1k extra commitments per month
in loans (visa-cards, cars etc.) The banks typically will only lend you $500K if
your income is above (3+1)*3.333*12 = 160K which according to your figures would
be barely above 10% of the population.

Wow, that's an eye-opener!