The average sales price for a two-bedroom home was $1.38 million in January 2019. But the city's median household income is $112,376, and buyers need to make an annual salary of at least $172,153 to be able to make mortgage payments on a home in San Francisco.
According to the San Francisco Chronicle, only 18% of households in the Bay Area can afford to buy a median-priced home.
So homeowning is typically reserved for those above a certain pay grade. As a result, the majority of San Franciscans are renters, 65% to be exact.
Source: Point2Homes
It's not uncommon for young, single renters to pile into one-bathroom Victorian homes with two to three other roommates, sometimes sacrificing a common area since living rooms are oftentimes converted into one of the bedrooms.
That's a result of high rent prices as well. The median rent for a one-bedroom apartment in the city was $2,474 in 2019. The cost to rent a two-bedroom apartment in the city was $3,109 in March 2019. For a three-bedroom, the rent was $4,182.
All of which is to say that those who would be able to follow the CDC's recommendations to segregate members of a household in separate rooms are residents that are able to afford a home with at least two bedrooms and two bathrooms. That's not a reality for many in San Francisco, who live in close quarters in order to live and work in the bustling city.
Source: Smart Asset and Curbed SF
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