SF Gate reports on a new Brookings Institution study showing that only in Atlanta is income inequality growing faster than in San Francisco.
Households at the 20th percentile in the city bring in $21,313 annually. Households at the 95th percentile bring in $353,576 – or 16.6 times more than those at the 20th percentile mark. (The figures are from 2012 census data, meaning San Francisco’s ratio is probably even higher now that the tech boom is in full throttle.)
That 16.6 figure is the second biggest in the country, trailing Atlanta, where the rich make 18.8 times more than the poor. Atlanta’s ratio is only bigger because that city’s poor are even worse off than ours, bringing in just $14,850 a year. The national average, by the way, is a ratio of 9.1.
Where San Francisco comes out on top – or bottom depending on your perspective – is when you compare income disparity in 2012 versus 2007, before the recession. San Francisco’s households at the 20th percentile saw their salaries drop $4,309 in those five years, whereas those at the 95th percentile saw theirs rise $27,815 during that time span. Dollars were adjusted for inflation. READ MORE.