In the two years that smartasset conducted its studies, the average first-year homeownership cost in San Francisco rose by about 17 percent.
San Francisco ranks as the city with the highest costs for the first year of homeownership, according to a study released Thursday by SmartAsset, a financial technology company.
New law represents ‘seismic shift’ in California housing policy Under AB 2011, suburban arterials like El Camino Real could become “ribbons of density” These numbers include roughly $316 thousand spent on a down payment and closing costs of nearly $8 thousand. Mortgage payments hover around $91 thousand while homeowners insurance costs around $17 hundred. Owners also pay roughy $9 thousand in property taxes.
This was SmartAsset's second annual study on how much the first year of homeownership costs in large cities in the United States.
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