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Cost and availability of affordable housing. 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]
Starting in the 1990s, the city of San Francisco and the surrounding San Francisco Bay Area have faced a serious housing shortage. The Bay Area's housing shortage is part of the broader California housing shortage. In October 2015, San Francisco had the highest rents of any major US city. [ 2] The nearby city of San Jose had the fourth highest ...
The city by the bay has tens of thousands of vacant units and roughly 8,000 ... including the San Francisco Apartment Association, ... The tax is directed to fund affordable-housing programs ...
It donates to progressive campaigns related to community development and affordable housing-related initiatives. Since 2016, one focus has been to limit office space and market rate housing in favor of housing for lower and middle class. [2] As of 2019, TODCO oversaw eight affordable housing buildings comprising about 1,000 units. [1]
California Bay Area neighbors San Francisco and Oakland are the only cities with larger populations also to have seen rents decline, according to the Apartment List estimates.
Affordable housing and Homelessness in the San Francisco Bay Area represents an ongoing part of public discourse, especially as the Bay Area population has increased to house about 20% of the State of California's population – the regional population is expected to increase from 7.2 million to 9.3 million by 2040. [60]
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