Move to San Francisco and Find Affordable Housing

Can You Afford to Live in San Francisco?

View of the Golden Gate Bridge
San Francisco. D. Schmidt

San Francisco is touted by many as the best place in the States, perhaps the world, in which to live. The reasons are many and varied. Many people therefore immediately assume that it is too expensive to move to San Francisco, and scratch it off their list of cities to move to. Don't be too hasty!

While it remains true that San Francisco still has one of the highest cost of living indexes in the States, buying property there has become considerably more affordable since real estate across the nation has taken a hit.

With all of San Francisco's many attractions,it is not unreasonable to expect that property there will be attainable only by the rich and famous, many of whom do live there, of course. But housing prices have leveled enough that quite a few average Joes and Janes can consider rubbing shoulders with the likes of Robin Williams and Sharon Stone. Well, maybe not in the same neighborhoods exactly, but you may still run into them at coffee shops and restaurants.

How about a 2-bed 2-bath condo for under US$300,000? This top floor unit is in a gated community and offers views of the surrounding hills.

Or this luxury condo in South Beach for US$344,000? And not far from the famous Golden Gate Bridge is this 2010 2-bed 2-bath condo listed for US$ 277,650. These two properties are Below Market Rate(BMR) listings, which means there are restrictions. Your income may not be over a certain limit.

Prefer a single-family detached property?.

How about a 1900 Victorian home with 5 bedrooms and 2 baths for US$284,000? This property was listed at just below $450,000, and in fact sold for $466,000 in 2010. This home is a foreclosure.

Of course you need to do your homework, check out the areas you'd want to live in, before jumping in to purchase a home.

Do some city comparisons, and see for yourself where the choicest cities and neighborhoods are to live in. Just don't write off San Francisco just yet.