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By Kara Brandeisky
December 17, 2015
Silicon Valley Stock—Alamy

Bay Area housing is infamously expensive, but if you work for Facebook, the social media giant is trying to make it worth your while to move as close to work as possible. Facebook is reportedly paying employees at least $10,000 to buy or rent somewhere within a 10-mile radius of the company’s campus in Menlo Park, according to Reuters.

Facebook workers with families could get as much as $15,000 or more to offset housing costs, Reuters reports.

The incentive reflects the difficulty finding affordable and convenient housing in the Bay Area. Workers who seek housing far from campus often must make long, congested commutes. But nearby housing may be unaffordable, even for well-paid tech workers.

According to Zillow, home values in Menlo Park increased 20.8% this year and are projected to rise an additional 5.1% next year. The median home value in Menlo Park is $1,963,100, and the average rental went for a whopping $5,524 a month.

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Our mission is to help people at any stage of life make smart financial decisions through research, reporting, reviews, recommendations, and tools.

Earning your trust is essential to our success, and we believe transparency is critical to creating that trust. To that end, you should know that many or all of the companies featured here are partners who advertise with us.

Our content is free because our partners pay us a referral fee if you click on links or call any of the phone numbers on our site. If you choose to interact with the content on our site, we will likely receive compensation. If you don't, we will not be compensated. Ultimately the choice is yours.

Opinions are our own and our editors and staff writers are instructed to maintain editorial integrity, but compensation along with in-depth research will determine where, how, and in what order they appear on the page.

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