Nearly HALF of Bay Area residents plan to flee California’s wealthy tech hub as sky-high housing costs make staying impossible

DAILYMAIL.COM • 5h ago

By SADIE WHITELOCKS, US SENIOR REPORTER Updated: 03:44 10 Oct 2026

The California dream is becoming a financial nightmare for thousands of residents who love where they live but fear they can no longer afford to stay.

Nearly half of people living in the San Francisco Bay Area say they are likely to move away within the next few years, despite the deep connections many still feel to their communities.

A new survey of 1,801 adults found that 46 percent were considering leaving the region, up from 43 percent last year.

The findings highlight the growing pressure on one of America’s most affluent regions, home to Silicon Valley’s technology giants, multimillion-dollar properties and some of the country’s wealthiest residents.

Yet behind the region’s extraordinary wealth, ordinary households are struggling to cover everyday expenses, save for retirement and get onto the property ladder.

The 2026 Silicon Valley Poll was conducted by Embold Research for Joint Venture Silicon Valley and the Bay Area News Group.

It found that 75 percent of respondents felt they belonged in their communities, while 77 percent said people like them were welcomed and accepted.

Even among those who said they were likely to leave, 66 percent still felt they belonged.

The proportion considering a move has risen from 43 percent last year, although it remains below the 56 percent recorded in 2021.

Russell Hancock, president and chief executive of Joint Venture Silicon Valley, said the problem was fundamentally about housing and the cost of living.

‘What they’re concerned about is our inability to solve our basic problem, which is housing – housing and the high cost of living here,’ he told the Bay Area News Group.

The survey found that 95 percent of residents considered housing and affordability serious problems, while nearly four in five said the Bay Area was becoming a place where only wealthy people could thrive.

More than half of those surveyed also said building a good life in the region required more than simply working hard.

For some residents, the prospect of leaving means giving up a place they have called home for generations.

Electrician David Collins, 53, is a fifth-generation Californian who loves the region’s natural beauty but fears he will never be able to retire comfortably if he stays.

He told the Bay Area News Group that he had worked seven days a week trying to save enough to buy a house, only to find homeownership remained out of reach.

‘I’d love to stay,’ he said. ‘I worked seven days a week trying to save money to buy a house, and it just kept being unattainable. How am I going to retire?’

Collins, who has spent his career working on homes and technology campuses, now lives in a one-bedroom apartment, with a renter sleeping in the living room.

He is considering moving out of state or even overseas, potentially to the Netherlands, where he has relatives.

‘I don’t want to give up on California,’ he said. ‘Believe me.’

Renters appear particularly vulnerable to the squeeze, with 51 percent saying they were likely to leave, compared with 39 percent of homeowners.

Among people who could not consistently cover their expenses and put money aside, 52 percent were considering a move, compared with 41 percent of those who could.

Gina Bidinger, 59, is another resident weighing up whether to leave the state where she has spent her life.

She shares a two-bedroom, one-bathroom apartment in Alameda with her 24-year-old daughter and 76-year-old mother, paying $2,600 a month in rent.

After losing her job as a business manager at an auto dealership, she has begun looking more seriously at cheaper places to live.

In Virginia, she found a two-bedroom, two-bathroom apartment with a washer and dryer for $900 a month, while a house with a swimming pool in Las Vegas caught her attention at $400,000. She also spotted a six-bedroom, four-bathroom house in Texas for just $300,000.

‘It’s a little hard to make that decision to move out of California, because this is really all I’ve ever known,’ she said.

Her children, grandchildren and mother are among the reasons she is reluctant to leave, illustrating the personal cost of moving in search of a more affordable life.

The affordability crisis is particularly stark in San Francisco, where rents have climbed sharply as demand for housing remains intense.

A separate report from rental platform Zumper ranked the city 43rd out of 44 major rental markets for renter negotiating power, giving it an F grade.

Its June figures showed the median rent for a one-bedroom apartment had jumped 21.9 percent in a year to $4,060 – the steepest annual increase among the markets studied.

Zumper said the return of technology-sector hiring, including demand associated with the artificial intelligence boom, had helped drive renewed competition for apartments.

The latest figures underline how even a well-paid job may not guarantee an easy route to homeownership in one of the country’s most expensive housing markets.

Danielle Hale, chief economist at Realtor.com, explained that housing costs were often the biggest item in a family’s budget.

Moving somewhere cheaper, she said, could create meaningful breathing room when household finances were stretched.

San Francisco Mayor Daniel Lurie has also declared a ‘rent emergency’ and proposed measures to combat evictions as the city grapples with mounting housing pressures.

The financial squeeze has sparked a wider debate among Bay Area residents about what it takes to get by in the region.

In a Reddit discussion titled ‘Why is so hard / expensive to live in bay area even with a ‘good’ salary,’ one user earning around $200,000 a year said they still struggled to save much money.

The poster described paying around $3,400 a month for a small one-bedroom apartment and utilities, spending about $2,000 a month on food for two people, and sending $1,500 to help family.

The thread quickly divided commenters, with some arguing that the Bay Area’s housing market made financial progress increasingly difficult, while others questioned whether the poster’s spending could be cut.

One commenter argued that earning $200,000 should allow someone to live comfortably, even if buying property remained a distant prospect.

Another wrote that they could manage on a $120,000 salary while paying market-rate rent.

The discussion reflects a broader tension in the region: whether the biggest obstacle is the sheer cost of housing or the difficulty of balancing everyday spending with the dream of owning a home.

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