Yahoo! News – Bay Area Apartment Rentals Most Expensive in Nation
A recent report shows the Bay Area is the most expensive place in the country to rent an apartment. The National Low Income housing Coalition says you have to make more than $22 an hour to rent a one-bedroom apartment in Marin, San Francisco and San Mateo counties.
It’s depressingly true. I live in a super small one bedroom and there is no way I could afford to pay for a two bedroom apartment – and I make pretty good money as a librarian. If I lived any where else in the country I would be doing really well. I would definately be able to afford a house, and a nice one at that. Here in the Bay Area? Not a chance. At one time I thought I could afford to buy a cabin in San Lorenzo Valley (you used to be able to find one for around $250000). But now I don’t think I can. And were talking a crappy one bedroom cabin that would need lots of work – and I would have a hellish commute to work.
For young couples in the Bay Area, it’s totally impossible to live the American Dream of buying a little house with a white picket fence, a child and a dog. It’s very disappointing because you grow up with dreams, almost expectations, of being able to buy a little suburban house, having a child and giving your child the kind of life that you had growing up, if not a little bit better if you can. You work your ass off going to grad school so you can get a professional degree and and get a job so you can make, what you think is good money. And you get that job, get your paycheck, and realize that the American Dream just isn’t going to happen on this paycheck and with these rental payments.
This is why young families are moving out of the Bay Area in droves.
Blatherskite 