The cost of living in the San Francisco’s Bay Area continues to rise, so much that a low end
six-figure salary is now considered “low-income.”In San Francisco and San Mateo Counties, a family of four making $105,350 or less is
now considered low income by the federal government Department of Housing and Urban Development. That means they can qualify for affordable housing.
“
, be it Section 8, be it public housing, or other HUD-subsidized programs,” HUD Regional Public Affairs Officer and Homeless Liaison Ed Cabrera told KRON-TV.
To put this in perspective, the average household income for a family of four in the rest of the United States is $55,775. “Low income” families make $24,399 on average.
The income limits in the Bay Area are the highest of any area in the country, Cabrera said.
In neighboring Santa Clara County, low income starts at $84,000. Contra Costa County is at about $80,000. For Napa, it is $74,000. And for Solano, it is $64,000.So what’s the the solution?
“Building at every income level because the demand here far outweighs the supply,” Cabrera said.
“Six figures is a substantial amount of money in most places,” said California resident Megan. “And the fact that it doesn’t get you much here is a bit sad.”
http://www.orrazz.com/2017/05/in-parts-of-californias-bay-area-105350.html
