We have all watched as San Francisco has continued to rise in popularity, particularly in recent years as more companies relocate to the Bay Area. When examining the companies that have already relocated to the city, it quickly becomes obvious that large, up-and-coming technology companies have found a new home in San Francisco. While an influx of major companies, including Twitter and Uber, can help to catapult a city’s economy, the amount of people that move to San Francisco to work at these companies has proven to be difficult, as space for new properties continues to shrink, causing the already high rent prices to increase even more. The question is, how do major cities that have experienced significant growth in their residents compare to the California city?
While San Francisco is known as one of the tech capitals in the United States, Seattle is not far behind, with major companies making a move to the rainy city. Major tech companies, including Microsoft and Amazon, currently call Seattle home. Unsurprisingly, more Americans are making their way to Seattle, to find a tech job with some of the tech giants. As these new residents continue to make their way to Seattle and San Francisco for tech jobs, it is important to understand how the cities compare with the cost of living.
According to Business Insider, the cost of a one-bedroom apartment in Seattle costs approximately $1,300 per month, but experts caution that as more Americans make Seattle their new home, the cost for rent will continue to skyrocket. On the other hand, it is estimated that renting a room within a house with roommates will cost an average $2,000 per month in San Francisco.
New York City
Like San Francisco, New York City continues to deal with their housing crisis. Even though more residents continue to make their way to the city, room to build additional housing properties has proven to be a challenge, as there are not enough living spaces to accommodate such an influx. In a study done by Inc.com, a New York resident would have to max approximately $99,000 to live comfortably. Additionally, New York residents pay an average of $2,295 for a one-bedroom apartment. Like San Francisco, New York City continues to see up-and-coming businesses make their way to the big apple to find qualified applicants, with no signs of slowing down in the foreseeable future.
Cities like New York and San Francisco continue to appeal to Americans, particularly those who strive to work at some of the growing companies in the cities. While San Francisco remains the most expensive city in the country, it does not stop eager Americans from making a move to get an opportunity to work at one of the city’s major companies. As more people make a move, it is important for the cities to advocate for more living spaces to accommodate the influx of new residents.