The San Jose/Santa Clara County regions homeless population—about 7,600 on any given night, the fifth-highest among major metro areas—edged up in 2013, even as the number of homeless nationwide dropped, according to U.S. data. About 46% of the homeless here are living on the streets for the first time, while 48% previously rented or owned a home, according to a county survey. At the same time, Silicon Valley incomes, rents and home prices have soared. In Palo Alto, home of Tesla Motors, TSLA +0.68% Hewlett-Packard HPQ +0.83% and Stanford University, average rents increased 34% during the past five years to $2,881, more than 2½ times the national average, according to apartment market-research firmRealFacts LLC. Silicon Valleys median household income is on the rise at $90,000, 75% above the national figure, according to the U.S. Census Bureau. online.wsj/news/articles/SB10001424052702303847804579479930243974564?mod=WSJ_hpp_MIDDLENexttoWhatsNewsTop&mg=reno64-wsj&url=http%3A%2F%2Fonline.wsj%2Farticle%2FSB10001424052702303847804579479930243974564.html%3Fmod%3DWSJ_hpp_MIDDLENexttoWha
Posted on: Thu, 10 Apr 2014 15:21:54 +0000
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