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$200-500k in the SF bay area is still considered middle class because housing prices have gotten so ridiculously high. The 2 br, 1 bath, 800 sq foot apartment I live in 3 years ago for $900/month would probably be $2,500 in SV. Likewise, the 1850 sq ft, 3 br, 2.5 bath house I live in now that I bought for $338k in 2015 would probably have been over $1,000,000 in SV. |
No, that means the middle class can't afford to live in SF. This isn't the first time I've heard this, and I don't know why anyone might think this. As a more extreme example, "middle-class in Pebble Beach is $1MM/year or $20MM net worth". No, there is no middle-class in Pebble Beach, only rich people live there.