But with an average price tag of $725,000 (and rising) for a single-family home, that would mean a household earning the median income of $80,000 would be paying around 50 percent of their monthly income toward their mortgage.
Fortunately, the initial surge of rental rates seems to have slowed down a bit. But it's impossible to talk about housing costs without also discussing the homelessness issue, which was declared a "state of emergency" two years ago, with little being done so far to fix it. So it will be interesting to see what effect a continued "hot" housing market, the election of a new mayor, and ramp-up of efforts by the City Council will have on future rental affordability, job wages, and the homelessness crisis.