SF Supervisors Could Soon Pass $138,000 Rule for Middle Income Housing
San Francisco is experiencing a shrinking base of families buying residences in the city. The reason: affordability. A new rule under consideration by the SF Board of Supervisors will ease this situation by allowing families with (at least) two people earning less than a combined $138,400 to qualify for middle-income affordable housing purchasing in the city.
This rule—not yet passed but is expected to—applies only to buyers, not to renters. Another proposed allowance for renters to quality for affordable rent units puts the combined income for families at $105,000. That figure is 30% of SF’s median income.
According to the SF Chronicle, “”Under the city’s previous policy, last updated in 2002, only those who earned 55 percent of the typical San Francisco median household income or less were able to utilize the option to buy affordable housing, per ABC.”