Editing Silicon Valley (section)

===Wealth===

The wealth inequality in Silicon Valley is more pronounced than in any other region of the United States. A 2023 report found that the aggregate household wealth of Silicon Valley (including [[High-net-worth individual|ultra-high net worth individuals]]) was nearly $1.1 trillion, and less than 1% of the Valley's population held 36% of the wealth.<ref name="Lazo">{{cite news |last1=Lazo |first1=Alejandro |title=Silicon Valley's vast wealth disparity deepens as poverty increased |url=https://calmatters.org/california-divide/2023/02/silicon-valley-inequality/ |access-date=December 3, 2023 |work=CalMatters |date=February 17, 2023}}</ref> Conversely, as of 2021, 23% of Silicon Valley residents were [[Poverty in the United States|living below the poverty line]].<ref name="Lazo" /> However, the meaning of the term "poverty" is dependent upon context; in Silicon Valley, it means something different because of the region's severe housing shortage and high housing prices. As of 2023, the low-income [[poverty threshold]] set by the [[California Department of Housing and Community Development]] for single-person households in the counties of San Francisco, San Mateo, and Marin was $104,400, followed by $96,000 for the county of Santa Clara.<ref name="Echeverria">{{cite news |last1=Echeverria |first1=Danielle |title=$104K a year is 'low-income' for single people in 3 Bay Area counties, according to state data |url=https://www.sfchronicle.com/bayarea/article/low-income-median-levels-18164328.php |access-date=December 3, 2023 |work=San Francisco Chronicle |date=June 23, 2023}}</ref><ref name="Kirkeby">{{cite web |last1=Kirkeby |first1=Megan |title=2023 State Income Limits |url=https://www.hcd.ca.gov/sites/default/files/docs/grants-and-funding/income-limits-2023.pdf |website=California Department of Housing and Community Development |publisher=State of California |access-date=December 3, 2023 |date=June 6, 2023}}</ref> In contrast, the 2023 national low-income poverty threshold set by the [[U.S. Census Bureau]] for a single-person household was $14,891.<ref name="Olya">{{cite news |last1=Olya |first1=Gabrielle |title=This Income Is Considered Poverty Level in 2023 |url=https://finance.yahoo.com/news/income-considered-poverty-level-2023-130051437.html |access-date=December 3, 2023 |work=Yahoo! Finance |date=December 2, 2023}}</ref>