Report: San Francisco Income Gap On Par with Rwanda

There's no sharing the wealth in San Francisco.

In fact, some folks appear to be hoarding it.

San Francisco's income inequality is becoming so pronounced, it's on par with some developing African nations, according to the San Francisco Chronicle.

The newspaper took a look at a report produced by the city's Human Services Agency, which crunched Census figures from the 2012 American Community Survey to produce a number called the "Gini Coefficient." 

The closer the number is to 1, the closer a place is to having one person have all the wealth. Countries like Sweden and Denmark are at .25 and .24, which means people are sharing.

Places like Rwanda score a .508, which means the rich have more and the poor have less. San Francisco's score? .523, which means the tech metropolis is closer to Guatemala than it is to those Scandinavian countries.

The city has more people making $25,000 or less and $100,000 and more than it did in 1990, the newspaper reproted. The middle class continues to shrink, and there are more families "doubling up" in housing units than before.

There are also more people in San Francisco with graduate degrees -- and more people with no degree at all.

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