The Bay Area is so expensive, earning $117,400 a year qualifies you as "low income" in some counties. Every year the U.S. Department of Housing and Urban Development releases "income limits," the minimum income level required to qualify for some affordable housing programs.
To be considered "low income" in San Francisco, San Mateo and Marin counties, a family of four must earn $117,400 a year. "Very low income" is considered $73,300.
The Bay Area figures are the highest in the country and continue to increase year over year. Income limits in some Bay Area cities increased by 10 percent just in the last year.
Most residents will roll their eyes at such figures — they're used to seeing the cost of rent and home ownership increase with the years. In May, the median home price in the Bay Area hit a record high at $935,000.
Poster Comment:
"Very low income" is considered $73,300.