In recent years, the wealth resulting from the IT boom from the nearby Silicon Valley, as well as from the recent Dot-Com booms has created a high standard of living in San Francisco, attracting white-collar workers to recent University graduate young to San Francisco from all over the world.[79] Many neighborhoods that were once blue-collar, middle, and lower class have been gentrifying, as many of the city's traditional business and industrial districts have experienced a renaissance driven by the redevelopment of the Embarcadero, including the neighborhoods South Beach and Mission Bay. The city's property values and household income have risen to among the highest in the nation,[80][81][82] creating a large, and upscale restaurant, retail, and entertainment scene. Due to the exceptionally high cost of living, many of the city's middle and lower class families have been leaving the city for the outer suburbs of the Bay Area, or for California's Central Valley.[83]
Boutiques along Fillmore Street in Pacific Heights
Although the centralized commerce and shopping districts of the Financial District and the area around Union Square are well-known around the world, San Francisco is also characterized by its culturally rich streetscapes featuring mixed-use neighborhoods anchored around central commercial corridors to which residents and visitors alike can walk. Because of these characteristics, San Francisco was rated "most walkable" city by the website Walkscore.com.[84][85] Many neighborhoods feature a mix of businesses, restaurants and venues that cater to both the daily needs of local residents while also serving many visitors and tourists. Some neighborhoods are dotted with boutiques, cafes and nightlife such as Union Street in Cow Hollow, and 24th Street in Noe Valley. Others are less so, such as Irving Street in the Sunset, or Mission Street in the Mission. This approach especially has influenced the continuing South of Market neighborhood redevelopment with businesses and neighborhood services rising alongside high-rise residences.[86]
The rainbow flag, symbol of LGBT pride, originated in San Francisco; banners like this one decorate streets in The Castro.
The international character San Francisco has fostered since its founding is continued today by large numbers of immigrants from Asia and Latin America. With 39% of its residents born overseas,[87] San Francisco has numerous neighborhoods filled with businesses and civic institutions catering to new arrivals. In particular, the arrival of many ethnic Chinese, which accelerated beginning in the 1970s, has complemented the long-established community historically based in Chinatown throughout the city and has transformed the annual Chinese New Year Parade into the largest event of its kind outside China.[88]
Following the arrival of the "beat" writers and artists of the 1950s, to the societal changes that culminated with the Summer of Love in the Haight-Ashbury district during the 1960s, San Francisco became an epicenter of liberal activism, with Democrats and Greens dominating city politics. San Francisco has not voted more than 20% for a Republican presidential or senatorial candidate since 1988.[89] In 2006, the Board of Supervisors passed the Healthy San Francisco program, which subsidizes medical care for certain uninsured residents.[90] Healthy San Francisco covers most medical services excluding dental and vision, but only pays providers within San Francisco
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