DataMarkets & Economy

California teachers left behind in precipitous price recovery

Across the state, just 17 percent of homes for sale are realistically affordable on a teacher’s salary
  • Just 17 percent of homes for sale are affordable on the average teacher salary in California.
  • Silicon Valley offers no affordable homes for teachers, in both San Mateo and Santa Clara counties.
  • About 60 percent of the homes for sale in Fresno, where teachers make around $77,000 per year, are affordable for local educators.

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Living in a costly state like California, where home prices are through the roof, affording a place to live on a teacher salary is nearly impossible – especially in the Bay Area. Although the Golden State holds a fantastic record for rising incomes, there’s still a large disparity between California teacher wages and housing costs. The average home costs well over $500,000, according to Redfin. The website's Chief Economist Nela Richardson says this is $200,000 higher than what the average teacher’s salary can afford when assuming just 30 percent of their income is spent on housing. “Though California is a striking example, it’s not the only state with this issue,” Richardson said in the study. “Due to the yawning gap between incomes and home prices in communities across the country, our public servants can't afford to live in the communities they serve.” Based on statewide averages, California teachers take home a salary of $73,536 annually, which pairs with j...