Well, around $200-300K, based on checking prices on Zillow for what sure appear to be spaces in that mobile home park (around Oakland Road in San Jose, ZIP code 95131). I don't think I've ever seen a mobile home listed for a half-million even in this area, although I've seen ones the mid-$300s. (Granted, this is still nuts, given that in Sacramento or Tampa, the other places I've idly priced homes, these would be under $100K.)
What's amazing to me is that people are willing to pay high prices for a manufactured home in Silicon Valley even though the likelihood of the mobile home park's land being sold to developers is higher than anywhere else.
This has already happened in a few places in the area. In Sunnyvale there are massive developments of million-dollar condos literally next door to mobile home parks. How much longer can those places survive?
One would think that the risk would make people less likely to buy. There aren't very many places in the area for people to move their homes to if the land they are sitting on gets sold.
Why is there such a disparity in quality of life for tech workers in SV? It seems like the housing crisis there will eventually stifle productivity (no one can afford to move there for entry level roles without giving up a ton). Are there some special dynamics that cause these types of scenarios except for the fact that a lot of people got rich quickly in one place?
Entry level roles are for fresh graduates. A converted living room is a step up from college and compatible with aggressive savings on a big-co wage. Entry level engineers willing to run smaller savings rates can even afford to live alone, though it can be a stretch.
Are those the $1M Silicon Valley homes I hear about?