East Bay Housing Is Cheaper Than The Rest of The Bay Area

Home buyers in the East Bay spent considerably less for new houses and pay less each month in their mortgages than others in the Bay Area.

That’s according to statistics released Wednesday from the U.S. Census’ 2011 American Housing Survey profile.

According to the survey, homeowners in the Oakland metropolitan area — those living generally between Oakland, Fremont and Hayward — paid a median price of $390,000 for newly built homes bought between 2007 and 2011, the latest figures available.

East Bay homeowners also paid the least amount in their mortgage each month: the median payment was $1,903.

The median number is that where half of the amounts counted are above and half below that figure.

The San Francisco metro area includes residents around San Francisco, San Mateo and Redwood City. San Jose metro area includes San Jose, Santa Clara and Sunnyvale.

Other East Bay Statistics include:

Physical Characteristics

•   The median year occupied homes were built in the Oakland area was 1970, compared with 1974 nationally.

•   In the Oakland area, 19.6 percent of occupied homes used electric heating and 79.6 percent used piped gas. Nationally, piped gas was the main heating fuel, used by 50.4 percent of occupied homes. Electricity was used by 35.3 percent of occupied U.S. homes. 

•   Among owner-occupied homes in the Oakland area, 41.0 percent had working carbon monoxide detectors, compared with 46.3 percent nationally.

•   Among Oakland area homes, 50.0 percent of owner-occupied units in the area had central air, compared with 72.5 percent of units across the U.S.

Financial Characteristics

•   Median monthly expenditures for owners in the Oakland area totaled $312 for real estate taxes, $87 for electricity and $83 for property insurance. Respective national medians were $151, $121 and $58.   

•   Among the area's owner-occupied homes, 74.7 percent had a regular and/or home equity mortgage and 37.1 percent had a refinanced primary mortgage. The respective national rates were 65.4 percent and 23.4 percent. 

•   Homeowners in the Oakland area had median monthly mortgage payments of $1,903 in 2011, compared with $1,015 nationally.

Statistics source: U.S. Census press release