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How Much Does It Cost to Retire in San Francisco, CA?

As one of the most expensive cities in the country, retiring to San Francisco can be a pricey adventure. However, adequate planning and a clear understanding of how much you should expect to pay during retirement can make that dream a reality.

If you’re considering San Francisco, California as the home for your retirement, here is what you can expect to pay on housing, healthcare, and transportation.

Average Housing Costs in San Francisco

If you’re hoping to buy a home in the San Francisco area for retirement, you will need some pretty hefty savings. According to Zillow, houses in the area are valued at about $1,127,400 but are selling for a median price of $1,174,250. If you haven’t planned for this kind of expense during your retirement, purchasing a retirement home may not be a feasible option.

Renting in San Francisco can provide a more affordable option, yet it is still expensive compared to the rest of the country. The average price of rent in the California comes in at just over $3900, with an average one-bedroom costing about $3448 per month and a two-bedroom costing around $4750 per month. The most expensive neighborhoods in the San Francisco area include Haigh-Ashbury and Presidio Heights.

Average Health Care Costs in San Francisco

The “per beneficiary” cost of Medicare in San Francisco County is definitely on the higher side. At $10,185 per person, San Francisco County falls towards the higher end of the distribution.

To keep your medical expenses as low as possible, be sure you are seeing Medicare-approved specialists and doctors. If you develop a need for in-house care or need to move to an assisted living facility, ask for Medicare recommended options to help cover some of the costs.

Before moving to San Francisco, you will also want to budget for unpredictable accidents or treatments. While you may be in good health before you move, falls, slips, and breaks are pretty regular for retirees of a certain age.

Average Transportation Costs in San Francisco

To keep up with the trend of being a more expensive city, transportation in the area will also cost you more than it might elsewhere. To ride public transportation, a one-way ticket can be purchased for $2.25 with a monthly pass available for $70. Cabs begin with a more expensive fare, starting at $3.50 per ride. On top of that number, $2.75 is added for every mile.

Car owners can expect to pay over $3 per gallon of gas in the Bay Area, but they at least get a break when it comes to car insurance. The average rate for car insurance is around $780 per year.

Free Activities and Events in the San Francisco Area

As home to some major tourist attractions, you’ll never run out of things to do in San Francisco. Best of all, many of those attractions are free. Visiting the Golden Gate Bridge, Alcatraz Island, Fisherman’s Wharf, or Pier 39 are all free options in San Francisco.

Learn more about San Francisco Retirement Planning here:

What's the Cost of Living in San Francisco, CA?

San Francisco Financial Advisors

San Francisco Elder Law Attorneys

San Francisco Senior Realtors

San Francisco Senior Movers and Downsizers

San Francisco Neighborhood Guide

Live Like a Local in San Francisco

San Francisco Demographics and Lifestyle

Find assisted living in San Francisco near you.