Markets & EconomyRentals

San Francisco median wages keeping up with rents

Renters are much less cost-burden in San Francisco than the rest of the country
  • San Francisco rents have increased significantly from 2007-2014 by 33 percent increase
  • Median renter incomes have mostly kept pace increasing by 27 percent during that same period
  • the national average is 52 percent and the state 57 percent

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With the US homeownership rate at its lowest since 1967, the US renter population is the largest it has ever been, and now stands at 43 million households. With rents increasing much faster than incomes, however, renters in cities across the US increasingly struggle with housing affordability. Apartment List recently analyzed Census data from 2007-2014 to understand which cities and states have the most cost-burdened renters (spending more than 30 percent of their income in rent). Cost-burdened renters in San Francisco, 2007-2014 As seen from the chart above, the share of cost-burdened renters in San Francisco was 43 percent in 2007. It rose to a high of 48 percent in 2012, before falling to 43 percent in 2014. This is lower than both the national (52 percent) and state (57 percent) average. Median rents and renter incomes in San Francisco, 2007-2014 Diving deeper into the data, we see that San Francisco rents have increased significantly from 2007-2014: The 33 ...