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While high paid tech workers can generally afford to live in the region, others cannot. To afford a two-bedroom apartment in Santa Clara County, an individual must earn at least $54.60 an hour, or $113,560 a year. California software developers earn an average of $60.27 an hour; in contrast, the average elementary school teacher earns $39.40. [8]
[80] [81] [82] In the rental market, California now has the lowest vacancy rate the state has ever seen, at 3.6%; [83] and while the median rent throughout the state for a two-bedroom apartment is $2,400, the median rent in coastal urban areas is even higher, surpassing $4,000 per month in San Francisco. [84]: 1
The San Francisco Bay Area comprises nine northern California counties and contains five of the ten most expensive [1] counties in the United States. Strong economic growth has created hundreds of thousands of new jobs, but coupled with severe restrictions on building new housing units, it has resulted in a statewide housing shortage which has ...
AvalonBay Communities, Inc. is a publicly traded real estate investment trust that invests in apartments. As of January 31, 2021, the company owned 79,856 apartment units in New England, the New York City metropolitan area, the Washington, D.C. metropolitan area, Seattle and California. It is the 3rd largest owner of apartments in the United ...
The proposed rent increases for a 2 bedroom apartment each year were 15% in 1981 and 1982, 25% in 1983, 1984, 1985 and 1986. The proposal would triple the rent in just 6 years. Up to that time, the Village operations, debt service, utilities and maintenance had been covered by rent, and the rent had been affordable.
The International House is an independent, self-supporting non-profit organization that has close associations with the university. International House Berkeley officially opened on August 18, 1930. It was the largest student housing complex in the Bay Area and the first coeducational residence west of the Mississippi.
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