"The average home in the United States costs around $240,000. But in San Francisco, the world’s most expensive place for construction, a two-bedroom apartment of what passes for affordable housing costs around $750,000 just to build.
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Not taking into account the price of land, around one quarter of the cost of building affordable housing goes to government fees, permits and consulting companies, according to a 2014 study by the California Department of Housing and Community Development.
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San Francisco has the highest overall building costs in the world, according to a 2019 report by Turner & Townsend.
The average costs of construction in San Francisco are 13 percent higher than New York, 60 percent more expensive than Chicago and 75 percent more than in Houston, according to the report.
It costs seven times more to build in San Francisco, America’s hub of technology, than in India’s technology capital, Bangalore.
Mr. Newsom says he recognizes the threat that the high costs pose to efforts to get people off the streets.
The average cost of a single affordable housing unit is around $500,000 in Los Angeles and around $600,000 in Oakland, according to data by the Terner Center."
...
Not taking into account the price of land, around one quarter of the cost of building affordable housing goes to government fees, permits and consulting companies, according to a 2014 study by the California Department of Housing and Community Development.
...
San Francisco has the highest overall building costs in the world, according to a 2019 report by Turner & Townsend.
The average costs of construction in San Francisco are 13 percent higher than New York, 60 percent more expensive than Chicago and 75 percent more than in Houston, according to the report.
It costs seven times more to build in San Francisco, America’s hub of technology, than in India’s technology capital, Bangalore.
Mr. Newsom says he recognizes the threat that the high costs pose to efforts to get people off the streets.
The average cost of a single affordable housing unit is around $500,000 in Los Angeles and around $600,000 in Oakland, according to data by the Terner Center."