THE COST OF CONVENIENCE

Even senior engineers can’t afford to live near their offices in San Francisco

What’s better than a private shuttle with WiFi, paid for by your company, that takes you to and from work everyday?

Not having a commute, that’s what.

But in San Francisco, this luxury comes at a very steep price. Rental listing startup Radpad recently crunched the numbers to see how much it’d cost tech workers to live within walking distance of their companies. Teaming up with Anthology—an anonymous job-seeking platform that companies like Amazon, Facebook, and Microsoft have used to recruit from—the firm found that mid- to senior-level engineers can expect to shell out half of their take-home pay to avoid a commute.

Though office and residential rents are high across all of San Francisco, Radpad’s analysis focused on apartment prices in the South of Market area, or SOMA, where Google, Twitter and Zynga, among others, have their offices. For each company, median rents are based on units within a half-mile radius of the office.

These numbers almost make Muni tolerable.

Tech company Median 1-bedroom rent in SOMA Median salary for mid- to senior-level engineer % salary toward rent, before taxes % salary toward rent, after taxes
Airbnb $3,395 $120,000 34% 54%
Square $3,265 $115,000 34% 54%
Stripe $3,400 $125,000 33% 52%
Jawbone $3,405 $135,000 30% 49%
Uber $3,265 $130,000 30% 48%
Zynga $3,545 $147,000 29% 47%
Salesforce $3,400 $145,000 28% 46%
Twitter $3,295 $150,000 26% 43%
Slack $2,749 $125,000 26% 42%
Google (SF) $3,406 $160,000 26% 42%
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