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A newanalysis from home finance site This First Homefound that California is home to some of the worst metro areas in America for first-time homebuyers — with San Jose ranking dead last among 150 major metros.
Data showed that just 2.8% buyers in the San Jose-Sunnyvale-Santa Clara metro area got loans from the Federal Housing Administration (FHA), which are often used by first-time homebuyers due to their more forgiving requirements than traditional loans,KTLA reported.
That was the lowest share of first-time homebuyers in the country, according to an analysis of 2025 Home Mortgage Disclosure Act data from the Consumer Financial Protection Bureau.
And the few buyers who do manage to crack into the market need serious cash.
The median income of FHA borrowers in the San Jose metro was $193,500, while the median loan amount was $735,000 and the median property value was $785,000, according to the analysis.
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The Los Angeles-Long Beach-Anaheim metro area was not far behind, with FHA loans making up just 11.2% of all home loans,according to This First House.
The median income of FHA borrowers in the LA area was $167,000, with a median loan amount of $665,000 and a median property value of $705,000.
San Francisco-Oakland-Berkeley also landed among the top 10 worst metros for first-time homeowners nationally.
Source: California Post – Breaking California News, Photos & Videos
