The median home price in San Francisco is around $1.35 million as of the first half of 2026.

Recent data from Zillow and Redfin shows that the overall median value, including condos, fluctuates between $1.3 million and $1.4 million, and for single-family homes, it is common to exceed $1.5 million. This is clear: San Francisco remains one of the most expensive markets in the country, and just looking at these numbers may not give you a full picture.

When you do the math, the story becomes clearer. Based on a $1.35 million home with a 20% down payment, or $270,000, the remaining loan principal is $1.08 million. With a 30-year fixed mortgage at an interest rate of 6.75%, the principal and interest (P&I) alone would be about $7,005 per month. Adding property taxes (assuming 1.2% annually) at $1,350 per month and insurance at $183 per month, the total monthly housing cost is estimated to be around $8,538.

To afford this monthly cost, applying the DTI 28% rule, the required monthly income is approximately $30,494. When converted to annual income, that amounts to $365,923, or roughly $366,000. This is a figure that is not easily attainable unless you are earning a salary comparable to that of a senior executive at a major corporation.

The median household income in San Francisco and the Bay Area is estimated to be around $140,000 based on the 2024 U.S. Census. While this is one of the highest levels in the country, it still shows a gap of nearly 2.6 times when compared to the required income of $366,000. This means that a median-income household would need to more than double their income to afford a median-priced home in San Francisco with a 20% down payment.

Comparing with nearby cities highlights how unusual this gap is. Even within the Bay Area, San Jose requires an annual income exceeding $400,000, while moving towards Oakland or Sacramento tends to lower the required income significantly. Ultimately, the realistic choice becomes whether to insist on buying within San Francisco or to consider extending the commute to nearby counties.

From the perspective of Korean households, dual-income is essentially a necessary strategy. If two people each earn between $150,000 and $180,000, they could approach the $360,000 mark, and increasing the down payment beyond 20% to reduce the loan amount is also a practical alternative. There are also many cases of Korean families putting down 30% or more or utilizing assistance from the previous generation (gift funds).

To conclude, San Francisco is a market where income alone is not enough to compete. It is time to consider strategies such as increasing the down payment ratio, looking at relatively affordable housing options like condos, or widening the commuting radius. Since interest rates and home prices continue to fluctuate, it is advisable to check the Bankrate mortgage calculator and Zillow prices again at the actual time of purchase.