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The statistic that went most against my intuition is that San Francisco has the one of the lowest 'rent burdens' in the US. That is, rent as a percentage of inc
by kilbuz 11y ago
The statistic that went most against my intuition is that San Francisco has the one of the lowest 'rent burdens' in the US. That is, rent as a percentage of income is on the low end and equivalent with many Midwestern cities. I'm guessing that the typical SF renter paying 25% of income on rent may be dealing with a lot less space (and more roommates) compared to someone in Pittsburgh or Minneapolis.
- alexchantavy 11y agoThe lower burden might also be because SF incomes are a lot higher than in the Midwest.
- eldavido 11y agoThis is true, but I wonder why. Are SF employees simply that much more productive than elsewhere? (Serious question, it might be that for certain types of work, you really do need the talent base here, but a company is certainly paying a premium for it these days.)
- onlyrealcuzzo 11y agoYes, they're some of the most educated people in the world.
- acchow 11y agoIncomes in SF are much higher.
- entee 11y agoI think it's also that SF has fairly high income inequality, which means that their statistics for rental burden a prone to being misleading.
- rconti 11y agoWhich means you're able to put a simply massive amount of money away if you so desire. I notice in many of these kinds of comment threads, people talk about dropping out of the rat race and getting rid of their "luxury townhome" and luxury cars and so on. Orrrr you could just participate in the rat race in a much more modest and realistic way.