Family earning $117,000 qualifies as low income in the Bay area where housing prices have increased 64 percent over last five years

According to a report from the Department of Housing and Urban Development, the median price for a single-family home in the Bay Area is now $935,000. A family earning $117,000 now qualifies as "low income" in the region.



"That norm is fueled by thousands of well-paid tech workers who have driven up the median price of a San Francisco house to $1.6 million dollars, the highest in the country. While housing prices are rising faster than incomes nationwide, nowhere is it more evident than in the Bay Area, where home values have soared a staggering 64 percent over the last five years."

https://www.cbsnews.com/amp/news/families-earning-117000-now-qualify-as-low-income-in-californias-bay-area/