$661,100 is Hayward, California’s house worth median. The value of houses in Hayward have gone up tremendously in the last year. And that is 15.8 percent. There has been a prediction made for Hayward that house prices will go up in the following year by 8.6 percent.
This incredible rise in the cost of housing in Hayward makes it so difficult for many people to enter the housing market. It can be challenging enough with just the high prices of homes in the city of Hayward.
In Hayward, $346 is the per square foot list cost median. The metro area of San Francisco has a higher per square foot list cost median of $491.
In Hayward, for houses that are listed presently, $640,000 is the cost median. For houses that have been sold, $648,900 is the cost median.
Foreclosures are an important factor in the economy of any area. The higher the foreclosure rate, the lower the value of homes in that particular area.
0.7 houses for every 10,000 houses go through foreclosure in Hayward. San Francisco Metro has a lower rate of foreclosure which is 0.5 houses that go through foreclosure for every 10,000 houses. And the United States has a foreclosure rate that is quite a bit higher. It is that 1.6 houses that go through foreclosure per 10,000 houses.
There is a first step that occurs at the beginning of the process of foreclosure. It is when the home owner becomes delinquent on their home mortgage. Mortgage delinquency is defined as the home owner skipping doing the essential act of making a payment on their mortgage.
Hayward has a mortgage delinquency percentage of 0.7 percent. The United States has a much higher mortgage delinquency rate which is 1.6 percent.
The 2008 recession had a very negative effect on the value of houses in our nation. House prices dropped at a greater amount than 20 percent nationally. As a result of this, there are still so many owners of houses underwater regarding their mortgages.
When the owner of a house is underwater on their mortgage, it means that they have a greater amount of mortgage debt than the worth of their house. 4.8 percent of owners of houses in Hayward are experiencing being underwater regarding their mortgage. This is a higher underwater rate than the metro area of San Francisco, which is 3.6 percent.
The annual Median household income in Hayward, CA is $68,138.