It seems even well-off people in some areas of San Francisco Bay and San Mateo in California are unable to make ends meet with a six-figure salary.
The new figure from the Department of Housing and Urban Development, state a family of four, living in San Francisco Bay Area or San Mateo, with an annual income of $105,350, will be considered a “low income” family.
The cause of the rising cost of living: high number of jobs created, low unemployment rate, rising incomes — but not enough affordable housing.
“If I didn’t have any family here and my kids didn’t have any friends, we may be living somewhere else,” said a resident of Bay Area. “People think we’re crazy. It is what it is, but we call it home.”
“Minimum wage is going up, but it would be different if the cost of living was the same as when I was a teenager,” said another resident. “Minimum wage goes up, and the cost of living goes up.”
To take a look at some of the dramatic figures, watch the video above.