least 100 employees at each of the 13 companies — including
Apple, Facebook, Google, Salesforce, Cisco, eBay, Intuit,
Airbnb, Uber, Pinterest, LinkedIn, Intel, and Oracle —
participated in the survey, with a total of 2,326 responses,
according to Blind.
median-priced home in San Francisco sells for$1.6
million,and it's not uncommon for
buyers to bid hundreds of thousands of dollars above
asking and pay in all cash. As a result, only about12%
of householdsin San Francisco can
afford the median-priced home.
tech workers fare better than others
workers are often paid more than the general population,
though that paycheck doesn't stretch far in the costly Bay
to Blind, Cisco had the highest percentage of employees
(72%) who said they can't buy a house, followed by eBay
(70%) and Intuit (65%).
who go to work at Salesforce, Google, and Facebook may
have an easier time of it. Those companies ranked lowest
with 52% of Salesforce employees, 51% of Google employees,
and 51% of Facebook employees reporting they can't afford
which became the first company to beworth
$1 trillionon the public markets
last week, was mixed in among startups Airbnb, Uber, and
Pinterest, with 63% of employees unable to buy a house.
Bay Area is on the brink of an exodus
the dream of buying a home evades them, tech workers may
be considering a move elsewhere.
great migration is far from over. In 2018, 49% of Bay Area
residents said they would consider leaving California
because of the cost of living, according to a survey of
500 residents by public-relations firmEdelman.
cropping up in places like Seattle, Portland, Denver, and
Sacramento, though arecent
article in the San Francisco Chroniclehighlights
that people in the Pacific Northwest aren't exactly
pleased to welcome their new neighbors as their home