​Where affordable housing and good jobs intersect

[William Hull]

In a study conducted by Zillow and LinkedIn, it was determined that, for West Coast Tech workers, Seattle is a better option when considering living expense to income ratio. Housing and employment data were analyzed by combining information about job listings and salary with the percentage of those hired in the health care, technology and finance industries. It was found that those who lived in Seattle had approximately $5500 leftover each month after living expenses compared to the $4000 left over by those who worked in San Francisco. Because of high demand and inventory shortages housing prices have risen to a point where having a good job does not mean that a person will have an excess of left over income. Affordability of housing is not ideal on the West Coast because of the demand from highly paid workers moving there. Half of their median income is typically used for rent on the West Coast compared to the middle of the country where only a quarter of income is spent on housing. In fact, North Carolina was ranked as the best option for those who have jobs in finance and healthcare workers would be better off with the housing markets in Arizona and Indiana.

Key Takeaways:

• Workers can pay less of their salary on housing in Seattle
• Housing shortages/high demand have driven up prices in San Francisco
• Workers on the West Coast are concerned about the amount of their salary to pay on housing

"After taxes and rental housing costs, tech workers in Seattle have around $5,500 leftover each month –whereas those in San Francisco are left with $4,000."

Read more: http://www.mpamag.com/news/where-affordable-housing-and-good-jobs-intersect-63332.aspx