Thinking about living in the Bay Area? Like any other place, the Bay Area has its own unique advantages and disadvantages. To help you out, we’ve listed down some of the things you should expect from living in the Bay Area.
The pros
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Terrific employment opportunities – San Francisco is a hub for innovation and technology. Many top tech companies including Apple, Google, Facebook, Netflix, Intel, YouTube, Oracle, Uber, Tesla, Twitter, and Airbnb have headquarters right here.
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Efficient transportation – Getting around the greater Bay Area and San Francisco is a breeze, as there’s no shortage of top-quality transit options, such as the BART, Muni, and the iconic vintage cable cars and streetcars. Rideshare services like Uber and Lyft (which have their headquarters in the Bay Area) are also easily accessible and affordable.
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Incredible outdoor recreation – Enjoy soaking in breathtaking views and spending time outdoors? The Bay Area is a haven for outdoor enthusiasts! There’s an array of exciting outdoor activities to enjoy here such as hiking, running, biking, kayaking, surfing, and more.
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Robust economy – Sure, housing and rental costs in the Bay Area are high, but that’s because the area is bolstered by an extremely diverse, solid, and consistent economy. San Francisco and the Bay Area have one of the largest domestic economies in the world, just behind Los Angeles.
The cons
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Expensive housing prices – It’s no secret that the Bay Area is one of the most expensive areas in the world to live in. The area’s high cost of living is closely tied to the higher demand over supply, especially with zoning laws prohibiting the construction of high-density housing options.
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Heavy traffic – If you plan on using a car to travel throughout San Francisco and the Bay Area, be prepared to spend countless hours in traffic. All that time spent idling on the roads is also costly, as gas prices in the Bay Area are typically more expensive compared to other cities.
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High taxes – With income tax rates of up to 12.3%, taxes in California are among the highest in the US. Add that to the state’s sales tax of 7.25% and the city and county rates in San Francisco, and you’re looking at sales taxes of 8.63%. The high taxes that come with living in the Bay Area is a key factor to consider, as they can take a huge chunk away from your overall take-home pay.
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The weather (sometimes) – The weather in the Bay Area can be a pro or a con depending on your preference. It’s worth mentioning that it can be quite foggy at times. For some, it creates a cozy atmosphere perfect for staying at home and enjoying a hot cup of coffee. Some people, however, just can’t stand the constant fog and find it annoying, which is understandable.
We hope this list gives you an idea of what to expect when living in San Francisco and the Bay Area, so you can make a well-informed decision when planning to relocate!
For a seamless and stress-free home search, get in touch with me, Amir Hardy, at 415.602.0570 or send an email to amir(dotted)hardy(at)compass(dotted)com.