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$100K a year now considered 'low income' in 4 Bay Area counties, report says
(www.nbcbayarea.com)
this post was submitted on 07 May 2025
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Bay Area single-family homes’ median price is $2 million. With a 20% down payment, you are looking at a $400k down payment and $10k monthly payments. No single soul can afford it, unless you have rich parents or Airbnb hoarders. Or senior+ positions for FAANG
Yup, those are the people who benefit. Everyone else gets priced out. And good luck if you’re in trades or the service industry.
Trades or service workers live outside the area and commute or cram in 8 to a house. My uncle was driving 3 to 5 hours one way doing heavy equipment at one point before he bailed out of the area. Everyone who works in San Fran/San Jose drives in from Pleasanton, Livermore, shit as far out as Tracy and Stockton, and turn the entire 580 into a 24 hour a day clusterfuck.
How the bay area hasn't collapsed in on itself is insane to me.
yup, its mostly all tech, which is closer to palo alto/sunnyvale. thats also where biotech firms are, besides the ones in between.
Yeah we visited there 10+ years ago, stayed in a hotel, and ate at a nearby Dennys and I was questioning how those hotel and Dennys employees could afford to work in those places.
The fact that I work in the trades, not an office job, is one of the main reasons I haven’t had to move to the capital for work. All my friends had to relocate because they couldn’t find jobs in our hometown - now they’re renting and living paycheck to paycheck on salaries higher than mine, while I’m the only one who owns a house.
Yep, my wife's friend bought a house in San Jose, and IMO in a shitty area. Her mortgage is $10k / month. The thought of spending a full Honda Civic every 3 months to put a roof over your head is just asinine.
Seriously who the fuck is able to do this and how is it sustainable as a system?
I don't mean to be an accelerationist but let's all get guns and wrap this the fuck up already.
Senior dev positions in the Bay area can fetch like 300k/yr base pay or higher. You can afford monthly down payments with an income this high. If you are married your income can go even higher. US tax code also allows you to average your income if you file together. Eg. If one person is staying at home and the other makes 300k/yr, your income tax is calculated as if two people made 150k/yr each. This can greatly reduce your taxes.
our nearby neighbor in the bay area left a while ago, but the new owners, new parents payed around 1.8mil-2mil for the house. also they were quite delusional of why they even bought it. they thought they had priority because of them being new parents plus i overheard them they wouldve never afforded it if thier parents dint pitch in for the renovations. the wife is not as nice as the husband, since shes so "introverted" she gives off a karen vibe.
2m for a single family home AND needs renovations, And she's gonna be an asshole?
Godamnit
2 other families moved in the neighborhood over the years, and close to us and they were all "the soccer mom types, they were not nice people. the husband tends to stay out of it,.(one of them has a giant lifted truck, and the soccer mom had a tesla "suv". gentrification is pretty much a problem, we actually did a presentation while i was in college over other areas.