Story HighlightsResidents of San Francisco, San Jose have better chance of upward mobility, report saysResearchers calculated likelihood of a family going from bottom fifth to top fifth of annual income in a generationSan Franciscans had a 12.2% chance of that kind of life-changing economic prosperity. "SAN FRANCISCO - A new report from the National Bureau of Economic Research has just answered a question often asked of the San Francisco Bay Area: Why would anyone want to live where the median price of a house costs more than $500,000?". Residents of the adjacent San Jose area, which includes the central mass of Silicon Valley tech headquarters, had the best chance of upwardly mobility, at 12.9%. Both cities therefore offer residents a roughly one-in-eight chance of significantly improving their family's economic prospects. The same holds true in San Francisco, where a growing number of tech workers are commuting south every day to Silicon Valley, as well as working for Salesforce.com, Twitter and other tech firms based in the city.
Source: USA TODAY
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