A Six Figure Salary Is Considered ‘Low Income’ In This CA City
By Pacey on June 26, 2018
Gone are the days when a six figure salary could land you in a large house in pretty much any city in the country. California is one of the best places to live, but it comes with a price, as it seems to be the most expensive place to live in the country as well.
The Bay Area is so expensive, earning $117,400 a year qualifies you as “low income” in some counties.
Every year the U.S. Department of Housing and Urban Development releases “income limits,” the minimum income level required to qualify for some affordable housing programs.
To be considered “low income” in San Francisco, San Mateo and Marin counties, a family of four must earn $117,400 a year. “Very low income” is considered $73,300.
In May, the median price of a home in the Bay Area is $935,000. Aren’t you glad you live in Sacramento now? However prices here seem to be increasing dramatically as well.