Is It Affordable to Live in San Francisco, CA?

The Short Answer

For most people, no. With an affordability score of just 12 out of 100, San Francisco is in a housing affordability crisis. The median home price of $1.4M requires an annual income of about $388K to buy comfortably — well above what most residents earn.

Housing Costs vs. National Average

Home prices in San Francisco are 229% above the national median of $410K. Rent is 107% above the national median of $1,500/month.

The price-to-income ratio in San Francisco is 11.3x, meaning the median home costs 11.3 times the median household income. Financial experts generally consider anything above 5x to be unaffordable.

Income You Need

To comfortably purchase the median home in San Francisco (spending no more than 28% of gross income on housing), you'd need an annual household income of approximately $388K. The median household income in San Francisco is $120K — a gap of $268K.

For renters, you'd need about $124K per year to keep rent at or below 30% of income. Currently, 34.0% of renters are cost-burdened (spending more than 30% on rent).

Market Trends

Home prices changed by 1.8% year-over-year, while rents shifted by 1.0%. Price growth is moderate.

Similar Cities to Compare

These cities have similar affordability profiles to San Francisco: