6 figure salary considered low income for Bay Area families
BAY AREA (KTVU) - The federal government came up with new numbers on what qualifies as low income in the Bay Area.
Even if a family brings in a six figure salary - if that family lives in San Francisco, San Mateo or Marin counties - they will still be considered low income, according to the Department of Housing. That means they will be eligible for housing assistance.
The US Department of Housing and Urban Development put out updated numbers in San Francisco and on the Peninsula saying a family of four making $105,000 is now considered low income. Compare that to just last year when the threshold was $98,000 for the same area.
A look at what annual salaries are considered low income for families (of four) living in other Bay Area counties
Alameda and Contra Costa counties: $80,000
Santa Clara County: $84,000
Napa County: $74,000
Solano County: $64,000
The new definitions and the higher income threshold mean more families across the Bay Area can qualify for housing assistance and affordable housing programs.
But it's a troubling reminder that the cost of living continues to rise here every year.
The median income for San Mateo and San Francisco is $115,000, which is only about $10,000 more than the new low-income threshold.