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Here’s how much money you need to make to rent an apartment in S.F. – San Francisco Chronicle

July 28, 2022

A sign advertising a property for rent in the Adams Point neighborhood on Tuesday, January 12, 2021, in Oakland, Calif.

Yalonda M. James/The Chronicle

It now takes an income of more than $61-an-hour to comfo…….

July 28, 2022

A sign advertising a property for rent in the Adams Point neighborhood on Tuesday, January 12, 2021, in Oakland, Calif.

Yalonda M. James/The Chronicle

It now takes an income of more than $61-an-hour to comfortably afford the rent for an average two-bedroom apartment in the San Francisco metro area.

That’s far more than other expensive U.S. cities like New York, where it takes $45 an hour, and more than triple San Francisco’s $16.99 minimum wage, according to a new report by the National Low Income Housing Coalition.

The San Francisco metro area, which also includes affluent Marin and San Mateo counties, tops the national list for the highest “housing wage,” or hourly earnings needed to spend no more than the federally recommended 30% of income on rent. No. 2 is Santa Cruz, where residents must earn more than $60 to rent an average two-bedroom. In the No. 3 San Jose-Sunnyvale-Santa Clara metro area, the figure is around $55 an hour.

“These numbers are just a really clear mirror being held up,” said Alina Harway, communications director for the Non-Profit Housing Association of Northern California. “We’re seeing how the economy has created this big gap between those who have and those who don’t.”

Source: https://www.sfchronicle.com/bayarea/article/rent-apartment-san-francisco-17333860.php

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