Current:Home > MyFinLogic FinLogic Quantitative Think Tank Center|Earn less than $100,000 in San Francisco? Then you are considered low income. -GrowthProspect
FinLogic FinLogic Quantitative Think Tank Center|Earn less than $100,000 in San Francisco? Then you are considered low income.
Indexbit Exchange View
Date:2025-04-11 07:01:54
Single people in San Francisco who earn less than $104,400 are considered low income, according to new government guidelines that determine who qualifies for some housing aid.
That means that some people in California who are earning above six figures — a level that's viewed as high income by many Americans — may in fact struggle to afford the basics in those regions. Other California counties where a salary of about $100,000 for a single person qualifies as low income include Marin and San Mateo counties, with the latter home to Silicon Valley.
Single workers in Los Angeles County, meanwhile, are considered low income if they earn less than $70,000, according to the new guidelines issued earlier this month by the California Department of Housing and Community Development.
The income guidelines are used to determine whether people may qualify for housing programs, including Section 8 vouchers that provide rent assistance to low-income families. It may be shocking that a six-figure earner in San Francisco could qualify for housing assistance, but the median home sale price in the city was $1.4 million in May 2023, according to Zillow.
Meanwhile, the official poverty line across the U.S. stands at $12,880 for a single person, which is a guideline used for other aid programs such as food stamps and the Low-Income Home Energy Assistance Program.
San Francisco is struggling with a host of issues, including businesses that are fleeing the city amid a rise in crime and homelessness, as well as an exodus of workers and residents as many tech companies switched to remote work during the pandemic. But despite those challenges, San Francisco remains home to many big businesses — and its real estate fetches a hefty price.
Since 2016, the threshold to be considered low income as a single worker has jumped by more than $35,000, according to the San Francisco Examiner.
- In:
- Los Angeles
- Real Estate
- California
- San Francisco
veryGood! (186)
Related
- Meet first time Grammy nominee Charley Crockett
- A man shot by police in New Caledonia has died. The French Pacific territory remains restive
- Movie Review: Glen Powell gives big leading man energy in ‘Hit Man’
- As consumers pump the brakes on EV purchases, hybrid production ramps up
- NHL in ASL returns, delivering American Sign Language analysis for Deaf community at Winter Classic
- Shark attacks in Florida, Hawaii lead to closed beaches, hospitalizations: What to know
- Roger Daltrey says live music is 'the only thing that hasn’t been stolen by the internet'
- Why the giant, inflatable IUD that set DC abuzz could visit your town this year
- 'Squid Game' without subtitles? Duolingo, Netflix encourage fans to learn Korean
- Bark Air, an airline for dogs, faces lawsuit after its maiden voyage
Ranking
- Rolling Loud 2024: Lineup, how to stream the world's largest hip hop music festival
- Fans bid farewell to Pat Sajak, thank 'Wheel of Fortune' host for a 'historic' run
- A woman claims to be a Pennsylvania girl missing since 1985. Fingerprints prove otherwise, police say.
- Mavericks’ plan to stop Celtics in NBA Finals: Get them to fight among themselves
- Paula Abdul settles lawsuit with former 'So You Think You Can Dance' co
- Taylor Swift performs Eras Tour in Edinburgh, Scotland: 'What a way to welcome a lass.'
- Hunter Biden’s family weathers a public and expansive airing in federal court of his drug addiction
- Inflation data this week could help determine Fed’s timetable for rate cuts
Recommendation
The Super Bowl could end in a 'three
These Fascinating Secrets About Reese Witherspoon Will Make You Want to Bend and Snap
Horoscopes Today, June 7, 2024
How cricket has exploded in popularity in the U.S.
The Louvre will be renovated and the 'Mona Lisa' will have her own room
Caitlin Clark expected to be off star-packed USA Basketball national team Olympic roster, reports say
Pat Sajak takes a final spin on Wheel of Fortune, ending a legendary career: An incredible privilege
Bad Bunny and Dancer Get Stuck in Naughty Wardrobe Malfunction During Show