40% Of San Francisco Homes Cost More Than $1 Million

San FranciscoThere are any number of ways to size up the relative insanity of San Francisco’s housing market. Rent for the median apartment is rising faster there than anywhere else in the nation.

A typical studio will now run you north of $2,300 a month. The price of a median home is rising much faster than the median income. And as a result, just 14 percent of homes on the market in the metropolitan area last year were within reach of the local median income.

By now, this may be belaboring the point, but this latest piece of perspective is just breathtaking: 43.5 percent of the homes for sale in metropolitan San Francisco as of earlier this month were listing for $1 million or more.

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Authored By Emily Badger – See the Full Story at The Washington Post

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