Opinion: San Francisco Needs To Fix Its Housing Crisis

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It's no secret that local residents are being priced out of San Francisco. According to CNBC, it's the most expensive city in the United States to raise a child - costing $15,000 more than average.

"The average annual cost of raising a child in the Bay Area is nearly double what Americans typically pay," according to a study published by CNBC. "In SF, it costs an average of $35,647 per year to raise a single child, making it the most expensive place in the U.S. to start a family."

San Francisco is also unaffordable for people making minimum wage. Someone with a full-time job (40 hours per week) earning $18.07 per hour would expect to make approximately $2,890 per month. However, the median rent of a 1-bedroom apartment is $2,932. So, if someone doesn't have an alternative stream of income (or means of support), they'll struggle to make ends meet.

Thousands of people in San Francisco are already unable to put a roof over their heads. According to a study published by McKinsey, "on any given night, 38,000 individuals in the Bay Area are homeless, an increase of 35 percent since 2019."

"As California faces a critical housing shortage, it is vital that we use every tool in our toolbox to build more housing faster and preserve affordability for individuals and families struggling with the high cost of rent," said Governor Newsom. "Every Californian deserves a place to call home, and we are aggressively working to secure more affordable housing throughout the state.”

California has also awarded $199 million to help thousands of people in homeless encampments move off the streets and into housing, according to a statement by Governor Newsom. “We’re doubling down on our investment to ensure that thousands of individuals in communities up and down the state move out of encampments and into housing where they can get the services and help they need."

“Governor Newsom has been resolute in addressing a housing supply deficit that has been decades in the making, and this new funding will lead to the construction of thousands of climate-friendly homes near economic opportunities,” said Business, Consumer Services, and Housing Agency Secretary Lourdes Castro Ramírez. “We look forward to applications from communities across the state to build homes for hard-working farmworkers, unhoused veterans and low-income Californians.”

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