T
he Bay Area's high cost of living has become a major driver of migration, with nearly half of residents considering leaving the region in the next few years. A recent poll found that 47% of respondents want to move away, down from 52% last year and 56% in 2022. The main reason cited for this desire to leave is affordability, with two-thirds of residents pointing to housing costs as a major factor.

    The tech industry's rapid growth has created thousands of jobs, but it has also led to soaring housing prices, making it difficult for many to afford living in the area. Those who can't afford to stay tend to be Hispanic or Black, while those moving in are often more wealthy and educated. This trend is creating a "transient class" of young professionals who move to the Bay Area to start their careers, but then leave when they're ready to start families.

    The median home price in the Bay Area has reached $1.14 million, up 2.9% from last year, while the typical rent for all property types is $3,800 a month, an increase of $505 from last year. Experts say that this trend is recreating segregation by economic means, with those who can afford to live in the area being able to access better housing and opportunities.