The Bay Area region added 90,834 people between 2014 and 2015, according to recently released U.S. Census Bureau data. "The population has been growing because of an increase in the number of available jobs in the Bay Area over the past five to seven years, especially in technology and healthcare. Population has grown faster than the number of housing units, leading to what some have called a housing crisis," said Association of Bay Area Governments, Senior Regional Planner, Hing Wong.
During the past five years, there has been a net in-migration of people who are in their 20s and 30s. In contrast with the timeframe between 2000 and 2010, when there was a net out-migration due to the dot.com bust, as well as the housing crisis later in the decade.
Economists forecast that this current increase is not expected to continue over the next five years. The ABAG Housing Action Agenda and other strategies will be used to help balance the supply of housing.