Report: San Francisco has highest salaries in the world
SAN FRANCISCO (KTVU) - San Francisco now has one more thing it's tops for: the city with the world's highest salaries.
A new report by Deutsche Bank shows San Francisco has surpassed the long-standing dominance of Zurich when it comes to residents with the highest salaries, as well as disposable incomes.
The report, "Mapping the World's Prices 2019," found San Franciscans bring in an average of $6,526 a month.
The report also puts the city at the top of the list for disposal income, after rent, with an average of $4,710 a month.
"San Fran has climbed a stunning 7 and 21 places on these two measures over the last 5 years," the report said.
The high salaries were fueled by the growing tech sector, which has also led to increases in the cost of living, according to the report.
San Francisco had the second highest rent in the world, with a two bedroom apartment averaging $3,631 a month. It followed Hong Kong, which took the top slot with rents only slightly higher, averaging $3,685. New York City came in third, with average rents of $2,909.
When it comes to quality of life, San Francisco is among the only two U.S. cities that made the top 10, coming in 9th, right behind Boston.
That category was measured on sub-indices including consumer purchasing power, crime and safety, health care availability, housing costs to income ratio, traffic, and pollution.
The report comes amid findings that point to a widening income gap in the city. Figures released last week found that San Francisco saw a 17 percent jump in the number of homeless residents over the last two years.