San Francisco often gets a reputation for being one of the priciest cities globally, but there’s more to the story. Having traveled to over 60 countries and more than 150 cities, I can confidently say that San Francisco tops the list for offering both an unbeatable lifestyle and substantial wealth-building opportunities. Surprisingly, it stands out as the cheapest international city when you consider the full picture.
Despite common misconceptions, San Francisco is quite affordable relative to its income opportunities, especially in the tech and finance sectors. It’s not rare to find 23-year-old college grads earning upwards of $150,000 annually here. Comparatively, properties in San Francisco offer incredible value. Imagine finding ocean view homes for under $1,000 per square foot, a figure nearly impossible to find in any other major global city where similar properties can go for over $1,500 per square foot.
Living in San Francisco for over 40 years and having worked internationally, I’ve seen firsthand how media averages can mislead. I actively engage in the local real estate market, attending open houses and bidding on properties, which gives me a clear view of the actual value on offer here. San Francisco’s affordability shines when you consider the salaries and quality of life it offers, even compared to cities like London where costs in areas like Knightsbridge can make San Francisco’s Pacific Heights look like a bargain.
The Economist’s cost-of-living index intriguingly leaves out San Francisco, further illustrating its relative affordability. Even in a global context defined by factors like international business presence and foreign investment, San Francisco’s appeal remains strong, especially post-pandemic with expected increases in foreign real estate purchases.
My personal experiences in cities like Honolulu and New York further solidify my viewpoint. For example, the real estate prices in Honolulu are staggeringly high without the corresponding job market to support such costs. Meanwhile, New York City, while vibrant and exciting, features living costs that can make anyone balk at the prices.
San Francisco’s market may present a high barrier to entry, but it’s justified by the unmatched income potential and quality of life. This city not only offers significant career opportunities, particularly in burgeoning fields like tech and AI but also presents a competitive real estate market where the value significantly outweighs the cost compared to other major cities. In essence, if you’re aiming for a city that offers both a dynamic lifestyle and a sound investment, San Francisco should be at the top of your list.
