To give some idea of the market - people are starting to count stock options as future income in order to qualify for home purchases. The median home price that sold recently in San Jose is close to a million dollars.

http://www.mercurynews.com/2017/09/25/about-silicon-valleys-...

When I bought in 2001, every house on the peninsula (between San Francisco and San Jose) no matter what condition had at least a dozen offers and it's worse now. http://www.mercurynews.com/2017/04/13/sjm-shortage-0414/

Seems low, I'd put it at 8-10x. You're hard pressed to find a property for less than a million dollars.

Yup.

5-6X will not get you a nice house in a nice area. It will just get you a small house. In San Jose, the cheapest ones I'm seeing are in the 500-600K range - smaller than 1000 sq ft.