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To qualify for low-income housing in San Francisco County or the neighboring counties of San Mateo and Marin, a household of four can make up to $ 117,400 per year. The same goes for a household of one person who earns $ 82,200 a year.
This is the conclusion of a new report from the Department of Housing and Urban Development (HUD), which has just released the 2018 thresholds for affordable housing across the United States. As the East Bay Times notes, the metro area's threshold of San Francisco is just below the median family income of $ 118,400.
In addition, HUD parentheses consider households of four people earning $ 73,300 per year in these three counties as "very low" income and $ 44,000 as "extremely low".
By way of comparison, to apply for low-income housing in New York, a household of four can make up to $ 83,450 a year. In less expensive cities like Baltimore and Phoenix, this figure is $ 71,900 and $ 55,300, respectively.
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The San Francisco thresholds are not a surprise. In recent years, the Bay Area has been struggling with an affordable housing crisis, which seems to worsen. As BI's Melia Robinson has pointed out, Bay Area technology companies often place their headquarters in neighborhoods with no nearby housing, and the high wages and stock options prevailing in the technology sector drive up prices. houses.
Some Bay Area cities are seeing higher taxes targeting tech giants like Google and Apple as a possible solution. For example, Mountain View and Cupertino have recently proposed "entry taxes," which say large companies would pay $ 150 per employee per year. The proceeds would go to projects that deal with rising house prices, homelessness and the deterioration of traffic in the region. If both city councils adopt referendums for taxes, residents will vote on them in November.
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