Current:Home > StocksAlgosensey Quantitative Think Tank Center-Earn less than $100,000 in San Francisco? Then you are considered low income. -WealthRise Academy
Algosensey Quantitative Think Tank Center-Earn less than $100,000 in San Francisco? Then you are considered low income.
TradeEdge Exchange View
Date:2025-04-09 17:58:00
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! (34696)
Related
- Intellectuals vs. The Internet
- Four Downs: A Saturday of complete college football chaos leaves SEC race up for grabs
- 2 sisters from Egypt were among those killed in Mexican army shooting
- Why Tom Selleck Was Frustrated Amid Blue Bloods Coming to an End
- Off the Grid: Sally breaks down USA TODAY's daily crossword puzzle, Triathlon
- WWE Bad Blood 2024 live results: Winners, highlights and analysis of matches
- What's the 'Scariest House in America'? HGTV aims to find out
- Stellantis recalls nearly 130,000 Ram 1500 pickup trucks for a turn signal malfunction
- Residents worried after ceiling cracks appear following reroofing works at Jalan Tenaga HDB blocks
- 'CEO of A List Smiles' charged with practicing dentistry without license in Atlanta
Ranking
- John Galliano out at Maison Margiela, capping year of fashion designer musical chairs
- Ohio court refers case brought by citizens’ group against Trump, Vance to prosecutors
- Michigan offense finds life with QB change, crumbles late in 27-17 loss at Washington
- How sugar became sexual and 'sinful' − and why you shouldn't skip dessert
- Sonya Massey's father decries possible release of former deputy charged with her death
- NFL Week 5 bold predictions: Which players, teams will surprise the most?
- Judge denies an order sought by a Black student who was punished over his hair
- What's in the new 'top-secret' Krabby Patty sauce? Wendy's keeping recipe 'closely guarded'
Recommendation
Travis Hunter, the 2
Why this $10,000 Toyota Hilux truck is a great affordable camper
TikToker Katie Santry Found a Rug Buried In Her Backyard—And Was Convinced There Was a Dead Body
Why Tom Selleck Was Frustrated Amid Blue Bloods Coming to an End
Whoopi Goldberg is delightfully vile as Miss Hannigan in ‘Annie’ stage return
Video shows 'world's fanciest' McDonald's, complete with grand piano, gutted by Helene
You may want to think twice before letting your dog jump in leaves this fall
After the deluge, the lies: Misinformation and hoaxes about Helene cloud the recovery