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As of 2022, San Francisco had the slowest permitting process of any large city in the United States, with the first stage taking an average of 450 calendar days, and the second stage can take 630 days for typical multi-family housing, or 860 days for a single-family house. [17]
In 2017, the median price of a home in California was more than 2.5 times the median in the U.S. as a whole, and in California's coastal urban areas, the shortage was greater than the inland areas, as demonstrated by the median prices of homes in those respective markets: $1.3M in San Francisco, $1M in San Jose, and $600k in Los Angeles, while ...
In 2018, the median rental rate in Silicon Valley was $2,911, the highest of any major metropolitan region in the United States. [3] At $3.20 per square foot, the San Jose metro area has the second highest rental rate per square foot in the United States, behind San Francisco at $3.42. [3]
The famous Illinois home featured in the 1990 Christmas classic first hit the market for $5.25 million in May 2024 NBC Universal 1 month ago Displaced Los Angeles-area residents face spiking rents ...
A three-bedroom, two-bathroom home built in 1924 in an upscale San Francisco neighborhood saw its value tumble after the recently listed property came with a major catch.
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[4]: 14,16 In San Francisco, a minimum wage worker would have to work approximately 4.7 full-time jobs to be able to spend less than 30% of their income on renting a two-bedroom apartment. [5] San Francisco has several thousand homeless people, despite extensive efforts by the city government to address the issue.
In recent decades, San Francisco has become an important center of finance and technology. The high demand for housing, driven by its proximity to Silicon Valley, and the limited availability has led to the city being one of America's most expensive places to live. San Francisco is currently ranked 16th on the Global Financial Centres Index. [1]