Advertisment
Categories: News

Weird But True: Average SF Resident Only Spends 26 Percent Of Income On Rent

Advertisment
Advertisment

It’s a well-known fact that San Francisco’s rents are sky-high: we spend an average of $20,000 a year just on securing a place to live. But a recent analysis of U.S. Census data shows that city residents only devote an average of 26 percent of their income to rent—one of the lowest big city rates in the nation.

Some context: the Census Bureau analyzes data with the belief that anyone who spends more than 30 percent of their monthly income on housing is “rent-burdened.” This burden is so common that 29 out of 50 of the nation’s biggest cities see that trend.

But on a nation-wide list, San Francisco ranked all the way down at #5 for the highest percentage of income dedicated to rent—behind Detroit, Cleveland, Memphis and Jacksonville. Our 26 percent marks us as well-below the standard, despite our highly-competitive and expensive housing market.

If that doesn’t make any sense, here’s the key: our low percentage of income devoted to rent most likely originates from our collectively enormous salaries. The average San Francisco resident who works in science, technology, engineering or mathematics earns $98,000 a year, which can easily accommodate our steadily rising rents.

And in recent years, our percentage has dropped, from 29 percent to 26 percent from 2012 to 2015. Which means that despite constantly-raising housing costs, our City’s overall income allows us (well, those of us who earn big salaries) to keep up.

Advertisment
Nuala Sawyer Bishari

Nuala Sawyer Bishari is the News Editor at SF Weekly. Follow her on Twitter at @TheBestNuala or nualawrites.com.

Share
Published by
Nuala Sawyer Bishari

Recent Posts

Oprah at Chase Center on Saturday, Feb. 22, 2020

Oprah's 2020 Vision: Your Life in Focus Tour stopped at Chase Center on Saturday, February 21st in San Francisco.  The…

02/24/2020

Machine Head at Fox Theater on Friday, Feb. 21, 2020

Machine Head returned home to Oakland with a head banging performance at the Fox Theater for their Burning My Eyes…

02/24/2020

The Perfect Film Festival in a Glorious Place

Why go to a film festival when you can watch movies on your favorite device at home or on the…

02/21/2020

Does the Tech Industry Have a Drinking Problem?

Work places and alcohol have some complicated history if we recall the Mad Men culture from the 60s. In present…

02/20/2020

What To Declare Before Entering US Territory

International flight travels and visits are exciting experiences. Imagine the feeling you have when you travel from one part of…

02/20/2020