In one sense, the news is good: employees in San Jose and San Francisco have the highest annual salaries in the country. Moreover, that salary in San Francisco actually goes further than in any other major U.S. coastal city.
On the other hand, 63 percent of renters in San Francisco as surveyed by Apartment List said they’re planning to relocate due to the high cost of living. Los Angeles is the top destination cited within California while Salt Lake City is the main attraction out-of-state.
Finally, high housing costs are probably scaring off skilled workers in other parts of the country as San Francisco is not listed as a top destination in any of the top U.S. metro areas.