13 facts about San Francisco that will make you think twice about whether you can afford to live there

San franciscoShutterstockThe median home price in San Francisco is a steep $US841,600

San Francisco is notorious for its jaw-dropping real estate prices.

The median rent for a one-bedroom apartment stands at $US3,460 a month.

But it’s not just housing expenses that will eat away at your paycheck — in general, the total cost of living in San Francisco is 62.6% higher than the US average.

If you’re thinking about heading out west to startup-nation, consider these eye-opening facts about the cost of living:

For a family of four, expect to pay about $91,785 a year for necessities -- that's $7,649 per month.

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Dolores Park.

Annual necessities in the San Francisco metro area for a four-person family -- two adults, two children -- include costs of housing, food, child care, transportation, healthcare, other necessities, and taxes. They do
not include savings or discretionary spending.

Source: Economic Policy Institute's 2015 Family Budget Calculator

The median home price in the San Francisco metro area is a steep $841,600.

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Colourful homes on Steiner Street.

Compare that to the median home price in the US: $US188,900.

Source: National Association of Realtors, via Business Insider

Meaning a typical monthly mortgage payment would come to $3,684.

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San Francisco row houses.

That's assuming interest rates for a common 30-year, fixed-rate mortgage.

Source: HSH.com

To afford to buy a median-priced home in the metro area, you'd need to earn about $158,000 a year.

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Urban homes in San Francisco.

To put that into perspective, the median household income in the US is $US52,250.

Source: HSH.com, via Business Insider

In addition to pricey housing, car ownership will add up: The average price for a gallon of gas in San Francisco is $3.20, compared to a national average of $2.33. That's a 37% difference.

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The San Francisco cable car system.

If you can manage without a car in the city of San Francisco, public transportation will be the most economical option: A monthly pass for bus and cable car service is $US68, while a pass that includes access to BART (Bay Area Rapid Transit) is just $US80. Compared to Chicago ($US100) and New York City ($US116.50), that's a pretty good deal.

Source: GasBuddy and AAA

Expect to pay daily parking rates of $20 or more in the city (or monthly rates between $200 and $400).

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Traffic on the Golden Gate.

Free parking can generally be found outside of the city center, but if you need to park downtown, it won't be cheap.

Source: SmartAsset

Date night in the city will cost you about $147.

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If you're paying for two, expect a hefty bill.

Source: GOBankingRates

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