Source: The Mercury News
If you want to rent a two-bedroom apartment in the South Bay, you’d better make close to $50 an hour — or roughly $100,000 a year — according to a startling new report that pegs all three of the nation’s most expensive regions for renters squarely within the Bay Area.
It’s even worse in San Francisco, Marin and San Mateo counties, where workers need to net $60 an hour, or about $125,000. In the East Bay, it’s $45 an hour, or $93,000 a year, according to the “Out of Reach” study released Wednesday by the National Low Income Housing Coalition.
The new numbers highlight the dire situation that confronts many local workers as they’re forced to cram into small, overcrowded apartments or commute long distances from cheaper neighborhoods in the Central Valley and beyond.