Households earning $117K now considered 'low income' in San Francisco Bay Area
28 Juin, 2018, 17:12 | Auteur: Auguste Feret
An annual report by the U.S. Department of Housing and Urban Development classifies a family of four living in San Francisco, San Mateo or Marin counties that earns less than $117,400 annually as "low income". The median home value in the San Francisco metro area was $947,500 at the end of April, while the median rent was $3,300 a month, according to Zillow, a real estate marketplace.
A new HUD report shows that low income in one USA city is off the charts compared to most of the country. A one-person household is now considered to be low income if it earns $82,200.
Compared to the department's 2017 * a href="https://www.huduser.gov/portal/datasets/il/il2017/2017summary.odn?year=2017&states=6.0&data=2017&inputname=METRO41860MM7360*0604199999%2BMarin+County&stname=California&statefp=06&selection_type=county" target="_blank" rel="noopener noreferrer" *income limits report, the 2018 low income limit is a more than $10,000 increase.
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That's what the latest data from the US Housing and Urban Development Department seems to suggest. Analysis from multiple news outlets reveals that in three Bay Area counties, the low income limit is set at $117,400.
CBS News recently reported on a small, rundown San Francisco-area house that has a caved-in roof and looks like it was the scene of a crime. He added: "You're going to have to trade off higher-cost housing for it in this area". "Raising a family in the Bay Area is very expensive", said Galindo, whose partner is also a local teacher. "It just demonstrates how broken and unsustainable our housing market is", says Amie Fishman, executive director of the Non-Profit Housing Association of Northern California.
For comparison, to apply for low-income housing in New York City, a four-person household can make up to $83,450 annually.
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