Most Expensive Counties To Rent Are In The Bay Area, Report Finds

By Carrie Hodousek, KCBS Radio

June 20, 2019
San Francisco Neighborhood
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SAN FRANCISCO (KCBS RADIO) — Marin, San Francisco and San Mateo counties all tie for the top most expensive county in the entire country.

Rents can vary anywhere from $3,000 to $8,000 a month, on average, for a two bedroom apartment.

Most people would say that's just way too much money. The problem says San Francisco real estate broker John Asdourian is, there is not enough affordable housing. Demand is high and supply is low, as more tech workers move to the Bay Area.

"Until such time the economy slows down and job growth, particularly in the tech sector, slows down." Asdourian said. "We're going to see these pressures,"

The annual 'Out of Reach' report from the National Low Income Housing Coalition looks at what people earn and what housing actually costs to afford a two bedroom apartment in those three Bay Area counties. You'll need to make over $127,000 a year or $60 an hour.

The national average hourly wage is just $22.00.