Quoting an estimated average rent of $3,200 a month for a two-bedroom in San Francisco, or $2,550 for a one-bedroom, and “using the accepted standard that you should not spend more than 30% of your income on housing,” Supervisor Alvalos notes that a household salary of $128,000 would be needed to rent the average two-bedroom, an income of $102,000 to rent an average one.
Concerned that “even most professionals cannot afford the current rents, and those who are in rent-controlled housing are feeling very vulnerable to displacement with the increased pressure on their landlords to find some way to evict them and triple their rents,” Supervisor Alvalos has prepared these questions for Mayor Ed Lee who will prepare and provide answers next week:
Are you concerned that your administration’s policies to stimulate economic activity, especially supporting the tech industry, have created one-sided development and only jobs for high-income “appsters,” and have exacerbated the already extremely limited housing market? Do you have any plans to address the increasing rents, and increasing rate of evictions and displacement of long-time San Francisco renters?
As plugged-in people know, employment in San Francisco is currently up by 20,900 workers on a year-over-year basis, and up by 48,200 since 2010, but remains 9,600 workers below a December 2000 dot-com peak.
∙ Nearly 50,000 More Employed In San Francisco Since 2010 [SocketSite]