A report released this month by the National Low Income Housing Coalition says you need to be making at least $29.83 an hour to afford a single bedroom apartment at market-rate in San Francisco — aka $62,046 a year, aka oh shit. And for two-bedroom apartments, you’re looking at a minimum of $37.62 per hour. If you’re wondering, San Francisco’s current renters make an average of $31.45. If that seems high, it’s ’cause it is. San Francisco is #1 (woo!) on the list of most expensive areas listed by NLIHC (boo!).
Although SF prides itself on having a higher minimum wage than other places in California, it seems like the current $10.74 or even the ambitious $15 may be futile in helping large groups of people afford to live here. This report is accurately named “Out of Reach” and is just one more depressing reminder that people making anything close to minimum wage have very little hope of renting in San Francisco, even with roommates and multiple jobs.
(KQED)
