It is no secret that San Francisco is one of the most popular metropolitan areas in the United States. With a population just shy of 900,000, one would think that housing would be somewhat easy to find — especially with the recent influx of tech companies that are establishing their headquarters there.
However, that assumption is simply not the case. This is because of two separate factors:
Firstly, San Francisco is in the midst of one of their worst affordable housing crises, which is a result of greedy contractors building exorbitantly priced homes for the rich and famous, as well as landlords clearing entire rental buildings for the sake of turning them into Airbnb hotspots.
Secondly, the city’s infamously sluggish contractors are now facing a new dilemma. There is a complex maze of state and local regulations, which are difficult to navigate around in order to break ground on new housing.
Additionally, there is a serious lack of suburban residential space in the more popular regions of the city — so even if contractors do manage to get their project or projects approved, they may have no place to build them.
With that in mind, let us take a deeper look at the most difficult places to build houses in the Bay Area, with statistics provided by BizJournals San Francisco:
Menlo Park (94025)
Since 2000, approximately 270 homes have been removed from the market in the Menlo Park area, causing the housing price index for the neighborhood skyrocketed by nearly 108 percent.
Since 2000, 118 homes have been lost in the Belmont neighborhood. Because of this, the housing price index for the area rose just over 108 percent. The same numbers hold for the St. Francis Wood, Miraloma, and West Portal (94127) region of San Francisco.
From 2000 to 2015, only 74 homes have been built in this popular Bay Area city. This drove the housing price index up over 117 percent, making Oakland one of the slowest growing locations in the country.
Old Mountain View (94041)
Since 2000, only 21 housing units have been built in Old Mountain View. Because of this, the housing price index rose over 116 percent.
Downtown Berkeley (94704)
Since 2000, this city has grown wildly in popularity. However, only 126 housing units have been built since then, causing the housing price index to skyrocket nearly 127 percent.
Twin Peaks/Glen Park (94131)
Since 2000, approximately 400 homes have been taken off the market in the Twin Peaks/Glen Park area, sending the housing price index up nearly 120 percent.
North Shoreline (94043)
Since 2000, this town has grown by 203 housing units. However, due to high demand, the housing price index skyrocketed nearly 150 percent.
From 2000 to 2015, this area saw approximately 340 new homes being built. However, this drove the housing price index up just over 146 percent.
West Berkeley (94710)
Due to this area’s increasing popularity, it lost approximately 160 housing units, driving the housing price index up almost 128 percent.