SLO ranked the most unaffordable home market

April 22, 2017

San Luis Obispo has the most overleveraged mortgage debtors in the country, according to a report by WalletHub researchers.

In San Luis Obispo, the average annual income is $16,565 while the median home price is $546,200 pricing most residents out of the homeownership market. The median mortgage debt in SLO is $333,641, according to the report.

Coming in second for mortgage holders who are overleveraged is Williamsburg, Va.; Brooksville, Fla.; Bay Point, Calif.; and Willis, Texas.

As for the most underleveraged homeowner markets, Decatur, Georgia led the pack with an average annual income of $56,026 and a median home price of $365,900 followed by Bronxville, N.Y.; Naples, Fla.; and Homosassa, Fla.


Here is the only way , I see to get a home in SLO County, If Mom Or Dad will not loan you a down payment, You need to find a older person , who does not have the time or the money to upgrade their home, You the buyer Find a small down payment ,hand that over,to seller.

Next seller , carries the note , with the interest rate not too tough to do, then you make your payments wait till the house goes up then you can refi. to a typical loan

Note this only work’s if the house is paid for, also if your short on income you can Reverse Amortise stack it onto of the note.. This is how I got my house, I got lucky , you need to have two parties who trust each other , This is a way to go around the Gov/Banking Industry, Run a ad What do you have to lose if your open & Honest with people.

The older person wins, monthly income, a pride of ownership helps them not rent a house, It’s a win win for both party… Here is my Effort to provide positive,input that works , Look it pained me allot to put my heart & soul into a home, but I learned it made me a better person, it took about 6 years to heal, but I did move on , I bought a 1966 Rancher in Oregon,on 1.25 AC I paired $194.900 in 2012 , Put a big down payment down & got a to carry the loan.

My property here in Oregon ,is now roughly worth $315. I work hard every day, I do work in the SLO county area & in Oregon, Honesty Does pay off ! Good Luck!


Garbage in, garbage out. This is total crap.

The mortgage payments alone on a $333,641 loan at 3.5% for 30 years is almost $18K.

Jon Tatro

A town comprised of 40-50 percent college students and it will create a bogus lopsided nonsensical stat. Perhaps they should’ve taken the parents income instead of the kids. As for the 10th most polluted air thank the Central Valley air migration for that.


Take all the students and the retired folks living off assets and SS, and you will normalize the income. The average income stated is misleading.


It’s a Strange Market, I am Born & raised in the area I left, I had a great Biz till the crash , I owed 435 K, on a Nice home I remodeled , LIKE new , I made between 50 Plus,

I had to Sell Or Lose it, SLO County house in Village.

I am in a skilled trade, I left the state , I could not afford to go back, I moved my home has gone up 210 or so, I owe 140,000 I make 30 now I can not get a loan being self employed , The Banking industry is a Joke….

The world is pretty screwed up , what about the hair cut for Dod Frank …


SLO, the land of the overleveraged, apathetical, don’t give a rats ass about anyone but themselves crowd of California.

rukidding is kidding us again, right? Or is it he or she just likes spreadin’ bullshit? California minimum wage is $9.50 an hour, not $12.00, so $9.50 x 40 = $380.00 a week x 50 = $19,000.00 a year. Considering most won’t get a 40 hour work week from minimum wage paying employers, the $16,000.00 is probably pretty damn accurate.



Not everyone in SLO is getting minimum wage. And that certainly isn’t the average.

Rich in MB

No….but we should demote the Government Hacks in City Hall DOWN to Minimum wage!


A Tribune article from last year quoted a BLS report stating the average annual salary in San Luis Obispo County for 2015 was $46,040

So yeah, I’d call BS on the $16,000 average salary as well. Maybe someone hit a 1 instead of a 4.


I just read an article that claimed SLO is one of the 25 most polluted cities in the US. Pay a lot, breathe bad air anyway.


Another fake news article. At $12 an hour a person would make $96 a day or $480 a week. If they work 50 weeks out of the year that would be $24,000 a year.


Perhaps that number includes all of the students? Does seem a little low, though i recently read somewhere that more than 50% of adults who work full time are making less than $30k per year.


That amount is probably the students allowance. How about the $30k? Still junk news anyway look at it.


Your number of $24,000 does not include the deductions for Social Security, State Disability, State and Federal Income, etc. You have to remember that they are more tenants (temporary) than permanent residents in SLO which is why elections are never logical or balanced. All those houses have students multi students in them and therefore make those house payments.


Do you realize people pay taxes right? I’m guessing you don’t. After taxes, insurance, etc. People working minimum wage make around $15k. And usually people who work minimum wage don’t work a full 40 a week. They make less than $16k. Way less.


rukidding, what planet do you live on where everyone works full time or even works at all? Or even pays into the system when they do work? That lowers the average in a big way. Welcome to the new California Demographics.


I’m getting pretty sick and tired of right-wingers calling every news article they don’t like “fake news’; right-wing hate websites invented fake news; things like “Hillary Clinton runs a child sex ring out of a pizza parlor” – patently absurd; now they use the term whenever the facts don’t fit with their beliefs. Argue the statistics if you like; it has always been easy to manipulate statistics to prove what you want, calling it fake news is just wrong, it is not made-up fantasy like that on right wing fake news websites. BTW: fake news sites don’t work on liberals; every time a liberal website has up a fake news article knocking a conservative (as an experiment, by the way, liberals don’t practice fake news, it;s a right wing thing), it takes about two minutes for a liberal to call bullshit. Go ahead, look it up…Better yet, find a liberal fake news website; they aren’t there!

Rich in MB

Folks..this is the plan and goal of the “smart growth” and No Growth liberals. They have theirs…so screw the little guy and keep out the valley Richard.

Enjoy the progressive paradise.


You can’t pin this on the progressives or liberals. Pretty much across the political spectrum you have those in power wanted to protect their overinflated home values by limiting most reasonable residential development while simultaneously green lighting grandiose commercial development projects.