According to this study from HSH.com, you have to earn an annual salary of more than $150K to buy a home in San Francisco. That’s just to cover the principal, interest, taxes and insurance—about $3,512 per month. I look forward to reading the follow-up study on how many times you need to play the lottery to win the money necessary for the 20 percent down payment on the totally unrealistic $770K median home price.
The answer, of course, is no. If San Francisco were New York, I’d be plotting a move to Portland right now. But it’s interesting that an article comparing my two favorite cities would focus almost exclusively on money. New York is synonymous with finance, and SF’s current tech boom (bubble?) has people worried that the cash might be greener on the other coast. And that has me wondering, how did the New York establishment react to the first Gold Rush?
Like 19th century Klout Scores, these houses were just as much status symbols as they were domiciles. But what do their ornate facades actually mean?
Wait, those are dolphins?
Spoiler Alert: It’s San Francisco. But only if you tally it as a percentage of what men earn.
You see, as President Obama pointed out in his State of the Union address, the wage gap in this country is “an embarrassment.” Women earn, on average, 77 cents for every dollar a man earns. Today, in 2014. That sucks.
So woohoo! We women of San Francisco pull in a median salary of $54,600 and make 84 cents for every dollar that our male colleagues make for doing the same work.
Compare that to our Bay Area neighbor San Jose, where the median salary is $1,400 higher, but women make just 70 percent of what men do. Looks like I have yet another reason to confine my job search to San Francisco.
Few cities in the U.S. embody the growing divide between rich and poor quite like New York and San Francisco. In just the past 20 years, both have changed from economically diverse melting pots to exclusive playgrounds for the rich.
The saddest thing about this is that the darkest red—or “rich”—areas represent households with an annual income of $75,000 per year or more. That’s hardly what I would call rich, especially when you consider that it supposedly takes $84,133 per year for a family of four to live “comfortably” in SF.
Christmas in the Mission. We had to stop for a photo with Santa the Hut.