Even Apple and Google Engineers Can’t Really Afford To Live Near Their Offices

Even Apple and Google Engineers Can’t Really Afford To Live Near Their Offices
Published on February 14, 2018 at 08:35PM
That’s according to the Y Combinator-backed real-estate startup Open Listings, which looked at median home sales prices near the headquarters (meaning within a 20-minute commute) of some of the Bay Area’s biggest and best-known tech companies. Fast Company: Using public salary data from Paysa, Open Listings then looked at how many software engineers from those companies could actually afford to buy a house close to their office. Here’s what it found: Engineers at five major SF-based tech companies would need to spend over the 28% threshold of their income to afford a monthly mortgage near their offices. Apple engineers would have to pay an average of 33% of their monthly income for a mortgage near work. That’s the highest percentage of the companies analyzed, and home prices in Cupertino continue to skyrocket. Google wasn’t much better at 32%, and living near the Facebook office would cost an engineer 29% of their monthly paycheck.

Read more of this story at Slashdot.