Despite all the horror stories coming out of San Francisco about exorbitant rents and the high cost of living, at least one study says the City by the Bay may be the best place to make a living.
According to an annual Deutsche Bank analysis, San Francisco unseated Zurich, Switzerland as the location with the highest salaries and the most disposable income.
“The rapid growth of the U.S. tech sector is helping San Fran beat traditional capital cities for incomes,” the report says. “Whilst its cost of living is increasing each year and rising up the cost rankings on most measures we cover, it still lags major global capitals. In terms of 2-bed rents however, it is only behind Hong Kong.”
The study now places Zurich to second place, followed by New York City, Boston and Chicago.
However, the growing tech industry has also led to complaints about the lack of affordable housing, income disparity and homelessness.
The 2019 Census study shows that San Francisco's homeless population is now at 8,011, an increase of 17% from 2017, according to city officials.
Deutsche Bank's "Mapping the World's Prices 2019" report shows San Francisco having the highest salaries, with residents earning 6,526 per month on an average. And as for disposable income, it stands at $4,710 a month.
Zurich, on the other hand, has an average monthly salary of $5,896 and a disposable income of $4,626.
The survey still lists Zurich at number one for quality of life.