News
Millennials Can't Afford Much in San Francisco
January 5, 2016
San Francisco's Millennials can afford to buy a home—as long as it's around 135 SF.
That was the takeaway from a report by SmartAsset, a personal finance company, that looked at the buying power of Millennials based on their median income and median net worth pitted against median home value, reports Curbed.
In the 23-city study, San Francisco had the worst level of affordability, followed by New York, where the home size would be 165 SF; Denver at 173 SF; Washington, DC, at 218 SF; and Los Angeles at 297 SF.
In Q3 2015, 35.8% of adults under the age of 35 owned homes, down from 39.1% in 1995 and 43% in 2005. [Curbed]
