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[29] [30] Many affluent tech workers migrated to San Francisco in pursuit of job opportunities and the lack of housing in the South Bay. [30] Until the end of the 1960s, San Francisco had affordable housing, which allowed people from many different backgrounds to settle down, but the economic shift impacted the city's demographics. [29]
According to Redfin, the average sales price of a home in San Francisco in January 2024 was $1.31 million, up 7.6% from the previous year. However, some cheaper options are available if that’s ...
In the 1960s, San Francisco and surrounding Bay Area cities enacted strict zoning regulations. [53] Zoning is the legal restriction of parts of a city to particular uses, such as residential, industrial, or commercial. In San Francisco, it also includes limitations on building height, density, and shape, and banning the demolition of old buildings.
For example, San Francisco's Planning Code Section 415 (set forth the requirements and procedures for the Inclusionary Affordable Housing Program) "requires residential projects of 10 or more units to pay an Affordable Housing Fee, or to provide a percentage of units as affordable "on-site" within the project or "off-site" at another location ...
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By the 1970s, the United States was being deindustrialized, and regional economies began to diverge: previously manufacturing-focused cities in the Rust Belt and elsewhere experienced population decline, and housing costs rose drastically in urban regions such as New York, San Francisco and Boston. [7]
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