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Research: Even Apple and Google engineers can’t actually afford to dwell close to their workplaces

In line with the property start-up Open Mixtures supported by Y Combinator, who watched costs close to the pinnacle workplace (that’s, in a 20-minute journey) from a number of the most vital and well-known know-how corporations within the Bay Space. Utilizing public pay information from Paysa Open Listings then examined what number of software program engineers these corporations might truly afford to purchase a home close to their residence. workplace. Right here's what he discovered:

Engineers of 5 main tech corporations SF ought to spend greater than 28% of their earnings to afford a month-to-month mortgage close to their workplaces.
Apple engineers ought to pay on common 33% of their month-to-month earnings for a mortgage close to work. That is the best proportion of corporations analyzed, and home costs in Cupertino proceed to soar.
Google was not a lot better at 32%, and residing close to the Fb workplace would price an engineer 29% of their month-to-month wage. (The businesses are headquartered in Mountain View and Menlo Park, respectively.)
On the different finish of the bay, the median price of properties close to the businesses analyzed was $ 1,203,750. The median wage for software program engineers at these companies was $ 210,500.

Supply: Open Lists, Paysa

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