{"id":8104,"date":"2021-11-02T09:00:40","date_gmt":"2021-11-02T16:00:40","guid":{"rendered":"https:\/\/blog.neighbor.com\/storage-blog\/?p=8104"},"modified":"2025-03-07T17:18:21","modified_gmt":"2025-03-08T00:18:21","slug":"moving-to-san-francisco","status":"publish","type":"post","link":"https:\/\/www.neighbor.com\/storage-blog\/moving-to-san-francisco\/","title":{"rendered":"Moving to San Francisco: Everything You Need to Know"},"content":{"rendered":"\n

Between 2010 and 2017, San Francisco was one of the fastest-growing cities in the nation. In just those seven years, its population climbed from 805,770 to 884,353, a total increase of nearly 10%.<\/p>\n

During the COVID-19 pandemic (and the subsequent shift to remote work across many industries), the city’s growth slowed significantly. But San Francisco still has a reputation for being a city that welcomes all kinds of people and promises a high quality of life. If you’re moving to California<\/a> and thinking about moving to San Francisco, you’re certainly not alone.<\/p>\n

Before making such a big move, though, there’s a lot to learn about San Francisco. This guide covers everything you need to know about moving to San Francisco, settling in, and living in the City by the Bay.<\/p>\n

Things to Know About Moving to San Francisco<\/h2>\n

San Francisco (also known by locals as the 7 by 7, the Golden City, or the Bay — but never<\/em> San Fran) is the 17th largest city in the U.S.<\/strong>, with a population of 874,961 as of 2019. It’s the second most population-dense city in the nation, containing more than 15,000 people per square mile.<\/p>\n

San Francisco is well known for being a relatively small city in terms of its area — the entire city is just 47 square miles, which is where it gets its nickname that locals use: The 7 by 7.<\/p>\n

San Francisco is just a small part of the Bay Area of California, which is home to 8 million total residents.<\/p>\n

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Cost of living<\/h3>\n

San Francisco is known for being an expensive place to live.<\/p>\n

A 2017 survey<\/a> found that the income one individual needs to live comfortably in San Francisco is $110,357, assuming 50% will go to necessities, 20% to savings, and 30% to discretionary spending. A 2018 report<\/a> from the Department of Housing and Urban Development actually said that $117,400 is the “low-income” threshold for a family of four in San Francisco.<\/p>\n

Median household income<\/h4>\n

\"Median<\/p>\n

The median household income in San Francisco is $112,449, which is significantly higher than the national average median household income of $67,521.<\/p>\n

Cost of living comparison<\/h4>\n

Here’s how San Francisco compares to other parts of the country in terms of its cost of living.<\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n
<\/td>\nHousing<\/strong><\/td>\nFood and Groceries<\/strong><\/td>\nTransportation<\/strong><\/td>\nHealthcare<\/strong><\/td>\n<\/tr>\n
City<\/td>\n% higher or lower than national average<\/td>\n% higher or lower than national average<\/td>\n% higher or lower than national average<\/td>\n% higher or lower than national average<\/td>\n<\/tr>\n
San Francisco<\/strong><\/td>\n496.2% higher<\/strong><\/td>\n16.6% higher<\/strong><\/td>\n58.2% higher<\/strong><\/td>\n14.9% higher<\/strong><\/td>\n<\/tr>\n
Los Angeles<\/td>\n73.3% higher<\/td>\n4.1% higher<\/td>\n65.3% higher<\/td>\n10.6% lower<\/td>\n<\/tr>\n
New York City<\/td>\n194.3% higher<\/td>\n16.6% higher<\/td>\n81.1% higher<\/td>\n27.6% higher<\/td>\n<\/tr>\n
Chicago<\/td>\n0.9% lower<\/td>\n2.8% lower<\/td>\n38.5% higher<\/td>\n12% lower<\/td>\n<\/tr>\n
Phoenix, AZ<\/td>\n3.5% higher<\/td>\n2.7% lower<\/td>\n17.9% higher<\/td>\n7.5% lower<\/td>\n<\/tr>\n
Orlando, FL<\/td>\n6.1% higher<\/td>\n0.7% higher<\/td>\n10.1% higher<\/td>\n3.4% higher<\/td>\n<\/tr>\n
Houston, TX<\/td>\n19.8% lower<\/td>\n1.9% lower<\/td>\n19% higher<\/td>\n4.9% lower<\/td>\n<\/tr>\n
Oklahoma City<\/td>\n43.8% lower<\/td>\n5.3% lower<\/td>\n4.5% lower<\/td>\n6.2% higher<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

*Percentages shown as higher or lower than the national average cost as of September 2021.<\/p>\n

Compare San Francisco’s cost of living to your current home city’s using this online calculator<\/a>.<\/p>\n

Should you rent or buy a home in San Francisco?<\/h4>\n

One of the biggest questions facing anyone who’s moving to San Francisco is whether they should rent or buy their home.<\/p>\n

San Francisco is notorious for its incredibly high housing costs. Housing stock tends to be low, which means that in some cases, it can be cheaper to rent than to buy (though not always, and this is heavily dependent on the part of the city, the housing market at the time of your move, and other factors). Overall, housing units in the city are 52% renter-occupied and 48% owner-occupied, which shows that more people living in San Francisco rent homes than own them.<\/p>\n

If you only plan on living in San Francisco part-time, renting may make more sense than buying<\/strong>. For example<\/em>, if you currently own property on the East Coast and are interested in a bi-coastal lifestyle, a rental near the San Francisco International Airport could be a great fit. (Pro tip: If parking is limited at your rental, look for long-term parking at SFO airport<\/a> for an easy commute from coast to coast).<\/p>\n

Average rental prices in San Francisco<\/h4>\n

If you’re planning to rent, these are the city-wide averages for rentals. Keep in mind that rent prices will vary somewhat by neighborhood.<\/p>\n\n\n\n\n\n\n
Studio apartment<\/strong><\/td>\n$2,212<\/td>\n<\/tr>\n
1-bedroom apartment<\/strong><\/td>\n$3,265<\/td>\n<\/tr>\n
2-bedroom apartment<\/strong><\/td>\n$4,476<\/td>\n<\/tr>\n
3-bedroom apartment<\/strong><\/td>\n$5,783<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

Prices accurate as of September of 2021. Source: Apartmentlist.com<\/em><\/p>\n

While the pandemic caused rent prices to dip in San Francisco, they’re now rebounding, and have increased more than 10% since the start of 2021.<\/p>\n

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Average home prices in San Francisco<\/h4>\n

Bay area home sale prices have increased 17.9% over the last year<\/a>, showing that while the national housing market seems to be cooling, it remains fiercely competitive in the Bay.<\/p>\n

As of August 2021, the median sold price for a single-family home in San Francisco was $1.85 million. Demand has been higher than supply for single-family homes for much of 2021, causing prices to steadily increase month-over-month.<\/p>\n

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 <\/em><\/p>\n

Current trends show that throughout 2022, home prices in San Francisco are likely to continue to rise.<\/p>\n

Homelessness in San Francisco<\/h4>\n

No guide to San Francisco can avoid talking about homelessness in the city. Despite being one of the wealthiest cities in the world, San Francisco has long been grappling with a major problem with homelessness — one that has only been exacerbated by the COVID-19 pandemic. For many people, it can be jarring to see hundreds of unhoused people camping and living along city streets.<\/p>\n

According to government records<\/a>, there are currently 8,035 homeless people in San Francisco, with the majority — 5,180 of them — unsheltered.<\/p>\n

Despite many ideas and much deliberation by public officials, homelessness in San Francisco has not only remained a major problem, but has increased in recent years. High costs of living and a lack of affordable housing are likely contributing factors.<\/p>\n

Economy and major industries<\/h3>\n

San Francisco has a GDP of $501 billion, making it the sixth-largest economy in the United States. The city is known for being a hub for the tech industry (and its proximity to Silicon Valley), but other major industries include manufacturing, food processing, shipbuilding, aerospace, and tourism.<\/p>\n

San Francisco’s job market is considered healthy. After unemployment skyrocketed at the start of the pandemic, the Golden City has added new jobs at one of the highest rates in the nation throughout 2021.<\/p>\n

While unemployment is still a bit volatile due to the pandemic, as of May of 2021, it was 5.5% in San Francisco, compared to a pandemic high of 12.7% in May of 2020. That’s also slightly lower than the national unemployment rate in the same month: 5.8%<\/p>\n

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 <\/em><\/p>\n

One potential downside to the economy in San Francisco is its income inequality — the third highest in the United States. As of 2020, there was a $492,000 income gap<\/a> between the city’s richest and middle class residents. That extreme income gap has caused lower-income workers, including first responders, teachers, and service workers, to move away to more affordable places, causing labor shortages.<\/p>\n

Diversity<\/h3>\n

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San Francisco has long had a reputation for being open, welcoming, and diverse.<\/p>\n

As of 2019, the U.S. Census Bureau estimates that the city is:<\/p>\n