If you make less than $117,400, you're 'low income' - in San Francisco

Home prices in San Francisco are up nearly 64 percent.               CBS News

Home prices in San Francisco are up nearly 64 percent. CBS News

The Department of Housing and Urban Development (HUD) released new data on income nationwide this week. A family of four in the other Bay Area, where median home prices are near $1 million, could make almost $120,000 and still get help.

The surprising declaration is down to calculations made by the U.S. Department of Housing and Urban Development.

San Francisco, a city of 870,000 was once so diverse it was known as Baghdad by the Bay, but it has grown steadily whiter and richer, according to USA census data, with a median income over $100,000. Not only is the low-income gauge the highest such limit in the country, but it represents a 10% increase over past year, per the San Jose Mercury News. In Santa Clara County, $84,750 is considered the low-income threshold for a four-person family. In Los Angeles, HUD's low-income threshold for a household of four is $77,500 and in New York City, an area long considered the most expensive city in the country, it's low-income threshold is $83,450-nearly $34,000 less than the Bay Area.

Read the full story at CBS San Francisco.

The Bay Area has led the country in housing prices while simultaneously experiencing a dramatic shortage of affordable housing.

Income limits in some cities in the Bay Area increased by 10 percent from 2017. "But it actually is for a family of four in our area".

"Even though I own my home, babysitting is expensive, the cost of food is expensive", Galindo told The Mercury News. As BI's Melia Robinson has noted, Bay Area tech companies frequently place their headquarters in areas without much nearby housing, and the high salaries and stock options prevalent in the tech industry cause home prices to continue rising.

"The market will never produce homes for people at that [median] level", said Amie Fishman, executive director of the nonprofit Housing Association of Northern California.

This week The New York Times reported that San Francisco restaurant owners are having trouble keeping up with rent payments so they can not afford to hire a wait staff which means diners are now serving themselves more.

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