Nearly Half of Bay Area Residents Considering Leaving Due to High Cost of Living

A new survey indicates that nearly half of residents in the San Francisco Bay Area are considering leaving the region within the next few years, driven by persistent housing affordability challenges. The 2026 Silicon Valley Poll, conducted by Embold Research for Joint Venture Silicon Valley and the Bay Area News Group, found that 46 percent of 1,801 surveyed adults are likely to move away, an increase from 43 percent in the previous year.

Despite strong feelings of belonging and acceptance within their communities, with 75 percent feeling they belong and 77 percent feeling welcomed, the economic pressures are proving to be a significant deterrent. Russell Hancock, president and chief executive of Joint Venture Silicon Valley, identified housing and the high cost of living as the core issues forcing residents to consider relocation. "What they're concerned about is our inability to solve our basic problem, which is housing - housing and the high cost of living here," Hancock stated. "That's what's driving people out."

The poll highlighted the severity of the affordability crisis, with 95 percent of residents viewing housing and affordability as serious problems. Nearly four in five respondents believe the Bay Area is becoming a region where only the wealthy can thrive. For many, achieving a good life in the area requires more than just hard work.

Renters appear to be particularly affected, with 51 percent considering a move compared to 39 percent of homeowners. Financial strain also correlates with the likelihood of leaving; 52 percent of those who cannot consistently cover expenses and save are considering a move, versus 41 percent of those who can.

Individual stories illustrate the difficult choices facing residents. David Collins, a 53-year-old electrician and fifth-generation Californian, expressed his love for the region's natural beauty but fears he cannot retire comfortably. Despite working seven days a week to save for a house, homeownership remains out of reach. He currently lives in a one-bedroom apartment and is considering moving out of state or even overseas.

Gina Bidinger, 59, is also weighing the decision to leave the state where she has spent her life. Sharing a two-bedroom apartment with her daughter and mother, she pays $2,600 a month in rent. After losing her job, she began researching more affordable areas, finding comparable apartments for $900 a month in Virginia and houses in Las Vegas and Texas for significantly less than in California.

The affordability crisis is starkly evident in San Francisco, where rents have surged. According to rental platform Zumper, the city ranked 43rd out of 44 major rental markets for renter negotiating power. Median rent for a one-bedroom apartment in June increased by 21.9 percent year-over-year to $4,060. Zumper attributed this rise in rental demand partly to the resurgence of hiring in the technology sector, including roles related to artificial intelligence.

Danielle Hale, chief economist at Realtor.com, noted that housing costs represent the largest portion of a family's budget, and moving to a more affordable location can provide significant financial relief. San Francisco Mayor Daniel Lurie has declared a "rent emergency" and proposed measures to prevent evictions.

The challenges have fueled broader discussions online about the difficulty of living in the Bay Area even with a substantial salary. In a Reddit discussion, one user earning around $200,000 annually described struggles with saving money due to high rent, utilities, food costs, and financial support for family. This sparked debate, with some agreeing about the housing market's difficulties and others questioning spending habits. The situation reflects a wider tension between the region's high cost of living and the aspiration of homeownership.