Lower cost of living, extra money woos talent away from Bay Area

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From Canadian Prime Minister Justin Trudeau this week to the Mayor of Washington, DC, Muriel Bowser this weekend, it seems everyone is wooing the Bay Area's top talent. (KGO-TV)

From Canadian Prime Minister Justin Trudeau this week to the Mayor of Washington, DC, Muriel Bowser this weekend, it seems everyone is wooing the Bay Area's top talent.

Teddy Lederer used to live in an Old Victorian at 16th and Geary streets. The home was definitely crowded. "With 11 roommates, 3 dogs and a beehive," said Lederer.

Technically the beehive and a chicken were outside. The struggle was memorable.

"Paying $600 a month, working three jobs and I just couldn't I couldn't make it work," said Lederer.

So Lederer moved to Washington DC.

"I don't miss going to bed hungry, I don't miss asking my parents for rent money, I don't miss wondering if I'm going to keep the electricity on at night," said Lederer.

Dennis Cote moved to Portland January 1st. He says new year, new him. "It's really great having some extra money," said Cote. "I probably wouldn't come back to San Francisco," he added.

RELATED: 40 percent of Bay Area residents thinking about leaving

They're not the only ones who thought about leaving.

Monica Anderson says that thought occurs to her once a month when she writes out her rent check. "I can't believe I'm paying this much for rent, I bet I could pay less somewhere else, I wonder how Utah is, and then you just swap the states out every month or so," joked Anderson.
While officials from other states and even other countries are wooing Bay Area talent, the Greater Sacramento Economic Council is trying to convince people to move within California.

"I work with company founders a lot, once they see that they can save 50 percent on the cost of doing business and 30% on the cost of hiring and still be connected to the Bay Area they absolutely consider it," said Cynthia Carrillo who is the Regional Director for the Bay Area.

Still not everyone is packing their bags.

"I'm loving it I'm planning to stay here, I'm trying to get a job here after my degree," said Heloise Thomson who recently moved from the UK.

Hopefully, one that pays well.

Click here for more stories, photos, and video on Bay Area real estate.

Related Topics:
realestaterentsrentersmoneysave moneyhousinghousing marketmovingSan Francisco
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