Surprise: It costs a lot to live here (San Francisco: apartments, rental)

[humboldtrat]

"The average Bay Area household spends 60% of its income on transportation and housing, a severe burden that leaves workers with insufficient resources for other basic needs", according to a study funded by a nonprofit.

Bay Area Burden » Press/Updates

[Charles22]

You were surprised? I wonder how many of my friends manage to have any money left, at all.

[mysticaltyger]

Originally Posted by humboldtrat

"The average Bay Area household spends 60% of its income on transportation and housing, a severe burden that leaves workers with insufficient resources for other basic needs", according to a study funded by a nonprofit.

Bay Area Burden » Press/Updates

Bottom line:

You have to give up a fair amount of living space in order not to live payday to payday here. That's easier to do if you don't have kids.

You probably don't want to raise kids here unless you have gobs of money or are one of those people who gets a kick out of finding new ways to be ultra frugal.

[parle75]

Honest questions for those living in the Bay Area, particularly San Francisco: Is it worth it to you to pay so much to live there? Are you happy? Or does the cost of living affect your ability to enjoy life there? Are you planning to stay or leave because of the costs?

I'm asking because I am weighing a move there next year from the other "SF" -- South Florida. I get sticker shock just about every time I check out apartment listings on Craig's List. While I totally get that it's very expensive to live in the Bay Area, it seems like I am caught off-guard when I see rent costs and how much space I actually get for the money.

I've visited San Fran twice this year to check it out and asked some locals how they fare out there. One young woman told me that she and her roommates struggle but they "make it work," she said.

Just wantin' to hear from some folks there. I love the area, but I'm now weighing whether I can find a place that can fit some of my furniture that doesn't cost me and arm and a leg, too. Even some of the places in the $1,600/mo. range (my limit) are lacking. I am interested in apartments in Hayes Valley, Lower Haight and The Mission.

[clongirl]

Originally Posted by parle75

Honest questions for those living in the Bay Area, particularly San Francisco: Is it worth it to you to pay so much to live there? Are you happy? Or does the cost of living affect your ability to enjoy life there? Are you planning to stay or leave because of the costs?

I'm asking because I am weighing a move there next year from the other "SF" -- South Florida. I get sticker shock just about every time I check out apartment listings on Craig's List. While I totally get that it's very expensive to live in the Bay Area, it seems like I am caught off-guard when I see rent costs and how much space I actually get for the money.

I've visited San Fran twice this year to check it out and asked some locals how they fare out there. One young woman told me that she and her roommates struggle but they "make it work," she said.

Just wantin' to hear from some folks there. I love the area, but I'm now weighing whether I can find a place that can fit some of my furniture that doesn't cost me and arm and a leg, too. Even some of the places in the $1,600/mo. range (my limit) are lacking. I am interested in apartments in Hayes Valley, Lower Haight and The Mission.

It all depends on how much you're earning and/or how many people you mind sharing a rental with and for how long you intend on doing that for.

If you are young, educated and a professional making a good steady salary it's probably one of the best places in the country to live.

If you are working in a fast food place flipping burgers, then you will have to have many roommates.

Problems arise when you eventually grow up, meet the person you want to settle down with, maybe have a kid, buy a house, eat out once in a while and maybe take a yearly vacation.

Then, whatever love you have for San Francisco will diminish. You will likely be priced out eventually if you ever want more than an occasional burrito and a place of your own!

[Boompa]

Originally Posted by humboldtrat

"The average Bay Area household spends 60% of its income on transportation and housing, a severe burden that leaves workers with insufficient resources for other basic needs", according to a study funded by a nonprofit.

Bay Area Burden » Press/Updates

Housing is the cost, transportation isn't high compared to other cities.
Food is actually cheaper than most places, utilities are about the same.
my source, experience.

If you find a place to rent that you like stay there. Rent control will make it a bargain after about five years

[Tallysmom]

Originally Posted by humboldtrat

"The average Bay Area household spends 60% of its income on transportation and housing, a severe burden that leaves workers with insufficient resources for other basic needs", according to a study funded by a nonprofit.

Bay Area Burden » Press/Updates

I spent some time poking around that website yesterday when I started hearing about it, and I found it troubling. No where (that I found) talked about the methodology of their findings. And when I used their calculator I found it way high. WAY high.

When I didn't edit the numbers I got, for a family of four, housing and transportation costs of 30K, which was 89% of average income. And when I tweaked the numbers to fit me, it said my annual transportation costs were 7K....

But since I own a small business and I have to keep track of these things, I KNOW my costs.... and the cost of my driving yearly, gas, maintenance, oil changes, car insurance, car license fees is 1800 bucks a year.

Now, I realize this site is trying to prove a point -- that costs are high. And I'm not going to dispute that. Just because I'm a skinflint and make the buffaloes on my nickels scream before I give them up, doesn't mean that every one else can or even wants to live the way I live. And the fact that I've lived where I live for over 20 years -- well -- you're not going to find ANYPLACE similar to rent for 642.50 a month around here and I know that.

But whole thing made me very suspicious. It's run by the Terwilliger Center for Workforce Housing -- so they very probably could skew figures their way. I don't know who said it, but it's true -- there's lies, damned lies and statistics.

The Center was started by Ronald Terwilliger, with help from Urban Land Institute. And jeez -- look a little farther and you find out Ronald Terwillger is the chairman of Trammel Crow Residential.....

And if you google Trammel Crow Residential -- seem they develop, aquire and build apartment communities across the USA....

I think I might have a good reason to distrust what this website is saying.... and so should every one.

[memorytheatre]

the cost of my driving yearly, gas, maintenance, oil changes, car insurance, car license fees is 1800 bucks a year.

I share your skeptical instincts regarding the figures on that site. But did you include cost of buying/leasing your car? I'd say that on average for a family of four who drive in the bay area that they are buying a new car at least every 5-7 years that costs between 18k - 35k. Most of these families will have two cars to shuttle both working parents and the children around. Practical public transportation only really exists in San Francisco and there it is barely practical for a family. I live in Glen Park and it is like a traffic jam every morning and afternoon with all the soccer mom vans and BMW SUV's. Car insurance for two people with a newish car is at least 150/month. 7k is a low number for most people in the Peninsula I'd say. Down there people are buying a 35-50k new car every 3-5 years. On average for a decent studio or one bedroom in the Bay Area it is $1800+.

[Tallysmom]

Originally Posted by memorytheatre

I share your skeptical instincts regarding the figures on that site. But did you include cost of buying/leasing your car? I'd say that on average for a family of four who drive in the bay area that they are buying a new car at least every 5-7 years that costs between 18k - 35k. Most of these families will have two cars to shuttle both working parents and the children around. Practical public transportation only really exists in San Francisco and there it is barely practical for a family. I live in Glen Park and it is like a traffic jam every morning and afternoon with all the soccer mom vans and BMW SUV's. Car insurance for two people with a newish car is at least 150/month. 7k is a low number for most people in the Peninsula I'd say. Down there people are buying a 35-50k new car every 3-5 years. On average for a decent studio or one bedroom in the Bay Area it is $1800+.

I actually didn't, as I pay cash for cars and keep them as long as I can.......... ( I did say I was a skinflint, didn't I? ) 50K for a new car? Oy -- that's TOO much! LOL

My last car was purchased in 2003 -- a brand new 2004 Toyota Matrix XR -- paid 17,143.22 for him. Mickey's a beaut. I adore that car. I name my cars -- crazy I know. This one's Mickey Matrix, after Mickey Dolenz of the Monkees. He doesn't even have 50K miles on him yet....

[18Montclair]

Okay, here's some perspective.

Of the Bay Area's 2.628 Million households, 1.671 Million of them are families. So Basically 63% of Bay Area residents belong to families.

And Median Family Income in the Bay Area is $93,327 and so even with the $28,000 a year the report says Bay Area households spend on housing-for actual FAMILIES, that only comes out to 30% of their income. Sure that's still high I guess but its half of what the report portrays as common for everyone. That still leaves $65,000 a year for other things.

$65,000 a year is nearly the same amount as the median family income in Dallas-Ft Worth($66,396) and so even after we pay our house, we still have more disposible income than Dallas cause they make $66K before paying their house note.