Photo: Gabriel Luri / The Chronicle 2018
Photo: Gabriel Luri / Chronicle 2018
For the second consecutive year Bay Area has won. But this is not a prize to be proud of. That's because it's ridiculous, disgustingly expensive (as usual): According to the annual report of the National Low-Cost Housing Coalition, the Marin, San Francisco, and San Mateo districts are tied to the most expensive area across the country.
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The report "Out of reach" aims to show the inconsistency between what people earn and what is actually worth the dwelling. According to the report, tenants in these counties have to make $ 60.96 an hour to rent a two-bedroom home for $ 3,170, which they believe is a fair market rate. This hourly wage is also calculated so that tenants do not spend more than 30% of their home pay. 4,000 people have applied.
This is a salary of $ 127,000 per year to provide modest housing. Comparison with the national housing wage – $ 22.96 per hour – is irritating.
"Low wages, wage inequality, racial inequality, and the severe shortage of affordable housing leave too many vulnerable people unable to afford housing," the report said, "Out of scope." They are not much better: the seven most expensive counties in the list are also local. So if you live in San Mateo, Santa Clara, Santa Cruz, Alameda or Contra Costa, you'll still have to make between $ 40.88 and $ 54.60 an hour to get yourself the modest two bedrooms of your dreams.
Top 10 of the most expensive counties are the San Diego County, Honolulu County and Orange County. That's nine for ten, California. Life in the Golden State is definitely at a price
Madeleine Wells is the assistant editor of SFGate. Email: email@example.com | Twitter: @ madwells22