New numbers show how much you need to earn in order to rent or purchase a home in the South Bay.
Jeff Andrews is a Zumper senior market analyst who tracks rent prices for the company. He said the traditional wisdom of not spending more than 30% of your income on rent has not applied here in a long time.
"The number of people who are severely rent burdened or rent burdened at all, it's an all-time high, especially after 2021," Andrews said. Another result of this? The number of permits for accessory dwelling units -- sometimes called granny units -- has shot higher recently in San Jose. The city said the number of ADU permit applications has more than doubled in the last two years.
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