Nate is an East Bay community papers editor for the Bay Area News Group and East Bay Times. He edits the Hills weekly Alameda Journal, Berkeley Voice, El Cerrito Journal, Montclarion and Piedmonter newspapers; Central Costa County's weekly Concord Transcript and Walnut Creek Journal papers; and East Contra Costa's weekly East County News.
Rents are higher in Silicon Valley and the rest of the Bay Area than anywhere else in California, but the region’s generally higher salaries nevertheless give its tenants more disposable income than anywhere else in this state, even the far lower-priced Central Valley.That’s the surprising conclusion of a study by the RentCafe website, which tracks income versus expenses for renters everywhere in America.
The average renter’s household income tops $145,000 a year, though, about $35,000 more than in San Francisco, where rents are higher, at $3,297 a month — or about $39,565 a year. Utilities in Sunnyvale, taken as a fairly typical Silicon Valley ‘burb, are also lower than in San Francisco, by about $1,000 per year. Health care costs a bit more, at an average of $516 per month in Sunnyvale compared with $489 in San Francisco.
So where rent eats only about 25% of the average Sunnyvale renter’s income, the typical Los Angeles rent of $2,745, or almost $33,000 per year, takes 56% of an average income. Even with utilities averaging a couple thousand dollars a year less and healthcare and transportation costs far lower than in the Silicon Valley, the Los Angeles renter winds up with much less disposable income than counterparts on the Peninsula.
The Orange County city of Anaheim stands near average in all these costs among California urban centers. With a typical monthly rent of $2,331, or nearly $28,000 a year, and income of about $66,000, the typical Anaheim renter should be able to handle expenses like utilities, food, healthcare and transportation and still have some disposable income left over.
With much of the exodus coming during the peak pandemic years of 2020-22, the bottom line is that most emigrants were folks who began to seek more space once it became clear they could work outside offices and not worry about having to make long commutes.With a baby due in July, a South Bay couple searches for their first home. What could $1.5 million buy?
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