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Even Apple and Google Engineers Can't Really Afford to Live Near Their Offices
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Real-estate startup Open Listings looked at median home sales prices near the headquarters (meaning within a 20-minute commute) of some of the San Francisco Bay Area's biggest and best-known tech companies. Using public salary data from Paysa, Open Listings then looked at how many software engineers from companies like Apple, Google, Facebook, and Uber could actually afford to buy a house close to their office. Not too many, they found.
- Engineers at five major SF-based tech companies would need to spend over the 28% threshold of their income to afford a monthly mortgage near their offices.
- Apple engineers would have to pay an average of 33% of their monthly income for a mortgage near work. That's the highest percentage of the companies analyzed, and home prices in Cupertino continue to skyrocket.
- Google wasn't much better at 32%, and living near the Facebook office would cost an engineer 29% of their monthly paycheck.
From Fast Company
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