The Housing Situation in San Francisco

The San Francisco Chronicle explains:

San Francisco has the most expensive housing of any metropolitan area in the United States. According to data from real estate website Trulia, the median rent for a two-bedroom apartment is $3,550, and consumes roughly half of the median monthly income. If your household makes that median income of $84,000, you are almost entirely priced out of the home-buying market, since only 14 percent of homes are within $440,000, the price at which the monthly payment would be 31 percent of your income.