average income in cupertino
It’s search engine Thursday!
Recently, someone found this site by searching for: how do you afford to buy a house in cupertino
Let’s look at some data to see the answer to this question:
Recession has a positive side for for some Cupertino business owners
Business appears to be on the upswing in Cupertino despite a tough economy. According to the city’s economic department, the city attracted more businesses this last fiscal year than in 2007-2008.
The city saw 30 new businesses added, a 35 percent increase over the previous fiscal year. New businesses include Amici’s East Coast Pizzeria, Silicon Valley Surgical Arts, Staples, Fortune Garden restaurant and Marukai market.
Not everyone suffers in a recession, said Kelly Kline, economic development coordinator for the city.
“For some businesses, when the economy suffers, it presents an opportunity to get in the market when they otherwise would have been waiting in the wings,” Kline said.
Kline says she sees the addition of restaurants as a bright spot for the city, given that they typically hire more employees than an average office.
…
Kline cites a number of reasons why the city is a good investment. The average household income is $161,458, and 65 percent of the residents have a bachelor’s degree or higher. Kline also notes that the city is user-friendly with good freeway access, and other amenities such as the Flint Center.
Sure you have to drive to go from store to store in Cupertino, making it just like Houston, but heck – cars are the future! And just look at that average income! $161,458. And that includes all the Pre-Prop 13ers who probably have an average household income of $30,000. Thus, you’re really competing with people who have an average household income of $300k+.
So… how do afford a house in Cupertino?
Make lots of money. Duh!
December 24th, 2009 at 8:43 am
This article is pointless. It talks about how great it is that they just added a lot of restaurants that hire lots of employees. None of those employees will buy a house and probably a vast majority live somewhere else because rent is so high in Cupertino.
December 24th, 2009 at 10:41 am
Not pointless but illustrative.
Similar to the unwashed (and washed) hordes pining for a massive money-losing 49ers stadium venture in Santa Clara. The non-residents seem to be the most vocal and aggressive in support (council members and ASSorted local small-time pols and those that have a financial stake in seeing it get done, not withstanding)of other people potentially funding a huge mistake so the tailgaters can drive distances in their Huge SUV to BBQ in a asphalt parking lot while wearing their Chinese-made team gear..
Proves a point: LIBERALISM IS A MENTAL DISORDER
Happy, Merry Whatever Kwanza. . .
December 24th, 2009 at 12:06 pm
http://www.freep.com/apps/pbcs.dll/article?AID=/20091220/BUSINESS04/912200325/1002/rss02
“Lawrence Yun, chief economist at the National Association of Realtors, says that a steady decline in housing inventory means home prices should increase 3% to 5% in 2010.”
Our favorite real estate shill, Larry Yun says house prices will rise 5% in 2010!!!
December 24th, 2009 at 1:49 pm
Average income will be $300k, or $3k, as the empty McMansions are occupied by squatters.
December 25th, 2009 at 10:40 pm
The average income figure shows that housing price there is not out of whack with respect to the income. When the average is over $161K, that means a ton of people make over $200K. For such income level, owning a house in the low $1M range (where most Cupertino homes are priced at) is completely reasonable.