Just a day ago we told you that San Francisco rent had reached its peak at $3,690 — the most expensive in the U.S.
No wonder a growing number of Bay Area homeowners are cashing in and moving out, citing everything from traffic and lack of affordable housing to high taxes or all of the above.
How bad can it be?
Real estate is so expensive on the entire West Coast that reportedly a growing number of married couples are now living with multiple roommates to foot the bill.
The number of married couples living with roommates has doubled since 1995, according to a recent report from real estate site Trulia.
About 280,000 married people now live with a roommate — and that could especially be true in expensive cities such as ones on the West Coast including San Francisco, Seattle, and Los Angeles.
30-year-old Santa Clarita resident Logan Allec spoke to MarketWatch about how and his wife had a roommate when they first got married.
“We had an extra bedroom upstairs with its own bathroom and a little living area and we charged $850 a month,” he said. “We were in our 20s and that was a nice chunk of change.”
28-year-old Stephanie, who works in public relations, also told MarketWatch that she lived with a married couple in 2017 because they offered her a rent-controlled room in their apartment.
Couples say one of the biggest motivation for having roommates is the extra money you’ll get to pocket to travel.
“We don’t want to spend that much money on rent. This [having roommates] aligns with our values. We’d rather use that money for travel,” 29-year-old Kelsey Riley Dixon told MarketWatch of living in Seattle.
For live, local news, download the KRONon app. It lets you watch commercial-free the Bay Area’s Local News Station on multiple streaming devices.
- SAN FRANCISCO RENT HITS NEW HIGH, MOST EXPENSIVE IN US
- GROWING NUMBER OF HOMEOWNERS MOVING OUT OF BAY AREA
- AMERICA’S MOST POPULAR NATIONAL PARK IS IN THE BAY AREA
- TEEN ALLEGEDLY ADMITS TO SPIKING STEPDAD’S DRINK WITH SEDATIVES
- 5-YEAR-OLD BOY CALLS POLICE ON ‘MOMO CHALLENGE’