Redfin recently released a report on the economic diversity of the nation’s major cities using 2014 city-specific median family income data from the American Community Survey. San Francisco was ranked as the no. 14 best city for a balanced mix, with 10 percent of its neighborhoods with balanced economic diversity.
The report determined purchasing power as a 20 percent down payment on a 30-year fixed-rate mortgage at 4 percent. Monthly family income going toward a mortgage was measured at 28 percent.
Redfin measured home price mix by summarizing a 500-meter grid, which were then classified as one of three categories: mix of affordable and high-end homes, high-end homes and affordable homes.
What’s the economic breakdown of San Francisco neighborhoods?
San Francisco | |||||
Balanced Mix | Area | High-end | Area | Affordable | Area |
Visitacion Valley | 56% | Bayview | 100% | Bayview / Hunters Point |
60% |
Sunnydale | 50% | Ashbury Heights | 100% | ||
Sea Cliff | 100% | ||||
St. Francis Wood | 100% | ||||
Noe Valley / Dolores Heights |
100% |
San Francisco has a reported 88 percent of high-end areas and only 2 percent of them are considered affordable.