With single-family home in the Bay Area averaging $935,000, families there making $117,000 are considered low income. The run-up on house prices is blamed on tech workers who can pay top dollar for houses. From CBS News:
That norm is fueled by thousands of well-paid tech workers who have driven up the median price of a San Francisco house to $1.6 million dollars, the highest in the country. While housing prices are rising faster than incomes nationwide, nowhere is it more evident than in the Bay Area, where home values have soared a staggering 64 percent over the last five years.
Image: CBS News