- $104,400 is a “low” earnings in San Francisco County, in line with California’s housing division.
- The median earnings for a one-person family is listed as $122,500.
- The typical month-to-month lease for a one-bed in SF is round $3,000 — the third-most costly within the US.
An annual earnings of $104,400 might go a great distance in Mississippi, however it will not get you far in San Francisco.
Such a wage courses as a “low'” earnings in San Francisco County, in line with California’s Division of Housing and Group Growth.
In a memorandum itemizing the State Revenue Limits for 2023, launched June 6 and first reported on by Fox Enterprise, the division outlined numerous earnings bands for various sized households, primarily based on knowledge the US Division of Housing and City Growth, which in flip used estimates from the Census Bureau’s American Group Survey.
In San Francisco County, the median earnings for a one-person family is listed as $122,500, per California’s housing division. Making $18,400 a yr is an “acutely low” earnings, $39,150 is “extraordinarily low,” $65,350 is “very low,” and $104,400 is “low.”
For a two-person family, $119,300 is a “low” earnings, rising to $134,200 for a family with three folks and $149,100 for 4.
The division lists median incomes as $140,000 for a two-person family, $157,500 for 3, $175,000 for 4, and $189,000 for 5.
Marin County, which is immediately north of San Francisco County, and San Mateo County, to the south, each have the identical earnings limits. Santa Clara County, which is south of San Mateo County and contains San Jose, Stanford College, Google’s most important Mountain View campus, and elements of Palo Alto, has a better median earnings for a one-person family of $126,900, however a decrease “low” earnings of $96,000.
Zumper and Zillow each put the typical month-to-month lease for a one-bed condominium in San Francisco at round $3,000. It is the third-most costly metropolis within the US to lease a one-bed, behind simply New York Metropolis and Jersey Metropolis, per Zumper knowledge. For San Francisco space households, housing accounts for on common 42% of their finances, in comparison with the US common of 34%, in line with knowledge from the US Bureau of Labor Statistics for the 2020-21 yr.
In addition to spending considerably extra on housing, households within the San Francisco space spent $12,133 a yr on private insurance coverage and pensions, or round 60% larger than the US common, in line with the BLS knowledge. Additionally they spent practically 40% extra on meals.
In whole, households within the San Francisco space spent a median of $91,290 per yr, in contrast the nationwide common expenditure of $64,187, per the info.
The outstanding expense of dwelling in San Francisco, coupled with what locals say are hovering crime charges and homelessness, pushed 1000’s of individuals to depart town in the course of the pandemic as distant work lured folks to extra inexpensive states.
San Francisco’s inhabitants fell by about 7%, or 62,000 folks, between 2020 and 2022, per estimates from the US Census Bureau.
High companies and retailers have been closing websites within the metropolis, too, citing crime and poor monetary efficiency.
Have you ever left San Francisco due to crime, prices, or only a extra enjoyable life-style elsewhere? Or are you contemplating making the transfer? Electronic mail this reporter at gdean@insider.com.
