Bay Area rents top U.S. charts

The San Francisco Chronicle reports on a new study on how unaffordable the San Francisco area is:

In San Francisco, for example, the authors found a family of four would need to make $61,440 per year -- or a total of $29.54 per hour -- to rent a $1,536 apartment. The median income for renter households in the city is $53,239 -- compared with $60,031 for all households. The study assumes that no more than 30 percent of a household's income should be spent on housing costs.

"The implications are that over a half a million renters in the San Francisco Bay Area are stretched beyond their means, only one paycheck away from possible eviction," Dianne Spaulding, executive director of the Non-Profit Housing Association of Northern California, said in a statement.

Would you want to expand your business there?Go East young man.