People making $100,000 a year can afford to live in just 28% of San Francisco Bay Area neighborhoods. If you make less than $64,000 annually, you basically have no options, KQED reports.
We all know it's expensive to live in the Bay Area. But just how unaffordable is it? Reporters with thelooked at how high rents and mortgages have climbed since 2012, and it will blow your mind. People making $100,000 can afford to live in just 28 percent of Bay Area neighborhoods. And if you're making less than $64,000, you basically have no options.
“If you're making $100,000 in today's wages back in 2012, you could afford to live in 70 percent of the zip codes in the Bay Area, if you are a renter… If you look at Redwood City where, in 2012 you could afford a mortgage payment on a home there on less than $90,000. And now, or as of last year, you would have needed over $200,000 to be able to afford, basically the same home… that's down payment aside. That's just the mortgage payment.
Traffic in Redwood City, where the income needed to afford a mortgage payment on a home has risen from $90,000 per year in 2012 to over $200,000 in 2018.“I was also thinking about: well, what about single parents? You know, I mean it's almost like these numbers have gotten so high that you need two incomes… to be able to buy anything.
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