ULI San Francisco Blog

ULI Bay Area in 2015 report Reveals Pitfalls of High Housing Costs

A new report from the Urban Land Institute, Bay Area in 2015, suggests that the San Francisco metropolitan region is at risk of losing Millennials in the years ahead, as high housing costs are making them increasingly skeptical about their ability to eventually move into homes in neighborhoods with the high livability attributes they desire.

The report finds that 74 percent of Millennials living in the Greater Bay area are considering moving over the next five years, although housing affordability concerns suggest that they will be more apt to move away from the area than within it. Just 24 percent are very confident that they will be able to own or rent their desired home in five years – a dramatically lower percentage than Gen Xers, 38 percent of which voiced strong confidence in their ability to move up; or Baby Boomers, at 49 percent.

Bay Area in 2015 is based on a survey of 701 adults in the Greater San Francisco Bay area that was conducted during February 2015 as a companion to a national survey conducted for ULI’s America in 2015 report, which was released last spring.

Download the full Bay Area in 2015 report here. 

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