SOURCE:
ZERO HEDGEURL:
https://www.zerohedge.com/news/2018-06-30/san-francisco-families-making-117000-qualify-low-income-housing
Shortly after officials revealed that San Francisco had become the first US city to mandate a $15 minimum wage in accordance with a law passed in 2014 - and just in the nick of time, too. Because home prices in San Francisco have risen so rapidly that Business Insider reported Saturday that applicants for affordable hoping qualify for affordable housing in the city must earn less than 117,400 a year qualify for low-income housing in San Francisco and a few neighboring counties, according to a new report from the Department of Housing and Urban Development. To help put this in context,
that number is just shy of the city's median income of $118,400.Here's more from Business Insider:
To qualify for low-income housing in San Francisco County or the nearby San Mateo and Marin counties, a four-person household can make as much as $117,400 a year. The same goes for a one-person household raking in $82,200 a year.
That's the conclusion of a new report from the Department of Housing and Urban Development, which just released the 2018 thresholds for affordable housing across the US...the San Francisco metro area's threshold is just below the area's median family income of $118,400.
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