I live in Horse Country NJ. It's believable.

I live in the Boston area, make a bit under that median (single) and there is no way I could swing even 2/3rds of their max monthly payment. Yes I still have about $350 a month in student loans, but my mortgage and HOA is less than half their max and I don't exactly spend the rest of my income freely.

I can certainly state with conviction that, despite my 6-figure salary, there is no way in hell I will ever be able to afford housing in this area. Thankfully, I'm single without kids and I can live in small spaces.

I am now apartment hunting as my lease expires and I don't like where I live. A 400-sq. ft. studio in SF is available for $3,100 a month and there's a wait list for parking at an extra $300/mo. (I need a car, unfortunately). San Jose is not much better. It's no wonder that people who make similar salaries as mine have roommates or live in illegal shares or hacker houses.

However, if I could afford it, I'd buy a house in the area - I drive past the mansions near Atherton/Menlo Park and some of the homes are plain gorgeous.