'Sticker shock': 49ers rookies warned about Bay Space housing value

'Sticker shock': 49ers rookies warned about Bay Area housing cost

SANTA CLARA, Calif. — The day after Trey Lance grew to become the No. 3 total choose within the 2021 NFL draft, he arrived on the San Francisco 49ers’ facility for his first in-person assembly with coach Kyle Shanahan.

Shanahan had about quarter-hour to talk with Lance and his household, who have been about to start the method of in search of a spot for him to reside. Given the significance of the quarterback-coach relationship, some dialogue of X’s and O’s or different football-related topics would have been an comprehensible subject of dialog.

As a substitute, Shanahan provided a warning.

“We have been hanging out and so they have been going to search for homes and issues like that. I informed him, ‘Do not be too depressed. Everybody could be very upset after the primary couple of days and also you understand you have to change what you have been in search of,'” stated Shanahan of Bay Space housing costs. “They usually’re like, ‘No, everybody’s informed us.’ I am like, ‘No, everybody informed me, you may see, it is actual.'”

For all NFL rookies, there is a obligatory adjustment that goes past soccer. There’s an off the sector ingredient that goes with placing out by yourself for the primary time as an grownup.

For 49ers rookies, there’s much more to contemplate as they arrive in one of the crucial distinctive — and costly — markets within the NFL.

Whereas San Francisco has lengthy ranked among the many costliest locations to reside in the USA, few 49ers truly keep within the metropolis. The workforce’s Santa Clara headquarters are about 45 miles from the town, and even with out visitors (good luck), that will be a couple of 50-minute commute every approach. Alas, it does not get less expensive nearer to Levi’s Stadium.

Marshall Inexperienced Bay Santa Clara
Avg. worth listed $192,795 $231,000 $1,795,000
Avg. worth bought $198,685 $230,000 $1,960,000
Avg. measurement 2,100 sq. ft.* 1,909 sq. ft. 1,800
Value per sq. ft. $155** $120 $980
Avg. lot measurement 11,000 sq. ft. 14,000 sq. ft. 7,000 sq. ft.
Avg. hire 2-bed apt. $700 $1,000 $3,250
Avg. measurement 2-bed apt. 700 sq. ft. 950 sq. ft. 1,050 sq. ft.
*-includes completed basement footage | **-finished basement footage goes for $95 per sq. foot
Offered by actual property brokers Monica Thomas, Tiffany Holtz and Jana Reilly

Based on Monica Thomas, an agent at Compass Realty who works intently with the 49ers, the common gross sales worth of a single-family dwelling in Santa Clara County is $1.96 million, which buys a house that’s roughly 1,800 sq. ft. Renting a two-bedroom condo measuring 900-1,200 sq. ft averages someplace between $2,500 and $4,000 per thirty days, relying on facilities and placement.

Thomas typically advises gamers to get to know their environment and what they’re in search of earlier than leaping into a choice.

“There’s positively a time period the place it takes a day or two of form of hitting the pavement and seeing completely different variations of what is on the market earlier than what I see is guys feeling actually snug and adjusting and getting used to the sticker shock of what you will get,” Thomas stated.

For comparability’s sake, the common worth of a single-family dwelling in Inexperienced Bay, Wisconsin, the NFL’s smallest market, is $230,000 which might purchase a 1,909-square-foot dwelling. A 900-1,000-square-foot two-bedroom condo rents for $800 to $1,200 per thirty days (although these near Lambeau Area can go for as much as $3,000), based on Tiffany Holtz, a Coldwell Banker agent based mostly there.

In Lance’s hometown of Marshall, Minnesota, the common gross sales worth of a single-family house is $198,685, with a median measurement of about 2,100 sq. ft (together with completed below-ground area). A two-bedroom condo averages $700 per thirty days for about 600-800 sq. ft, based on Jana Reilly of Keller Williams Realty in Marshall.

Contemplating these numbers, it is easy to grasp why rookies corresponding to third-round cornerback Ambry Thomas gasp at the mere mention of the Bay Area’s cost of living.

“Once I got the phone call [I was drafted] I was happy, excited, then I thought about everything and I’m like, ‘California, tax, taxes’ and I started thinking about all that and the cost of living,” said Thomas, who grew up in Detroit before playing at Michigan. “I’m like, ‘Hey, it’s kind of expensive, very expensive.’ But I’m just grateful for the opportunity, honestly. Skip the cost of living and all that right now. I feel like my play will take care of my pockets.”

To that end, the 49ers work to ensure their players take care of their pockets before their play enters the conversation.

Much of that responsibility falls on Austin Moss II, the 49ers’ director of player engagement. It’s his job to “engage, educate and empower” players to “reach their full potential both on and off the field.” A big part of that job is helping players transition into and out of the NFL.

That work begins during the draft process as Moss learns which players are being targeted so he can begin putting plans in place to help them adjust. Soon after players are drafted, Moss introduces himself and lets them know he’s the go-to guy for any help needed making the transition to the league.

When the rookies arrive in Santa Clara, the real work begins. Moss, along with player engagement coordinator Shelby Soltau, provides a structured curriculum that essentially amounts to rookie school.

The group meets for an hour every day from Monday through Thursday for about four weeks.

The first week covers how to be a pro, with discussions on culture, expectations, setting a routine and maximizing available resources. Week 2 focuses on finances, with lessons on budgeting, building credits and expenses. Week 3 is called roadblocks, with talks on stress management, decision-making, relationships, life skills and leadership. The final week covers success beyond the game — helping the community, building a platform and preparing for what comes after football.

There’s even discussions on learning opportunities at notable Silicon Valley companies such as Apple, Tesla and Google that allow for players to take tours, meet executives and pursue offseason job shadows and internships.

Mixed into those conversations are plenty of guest appearances from other players on how to handle things like housing. Tight end George Kittle, a former fifth-round pick who lived with his now-wife and two teammates in an apartment during his rookie season, is always willing to share his experience.

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“The one thing that’s really nice about playing football in Santa Clara is football’s the No. 1 priority at all times,” Kittle said. “You got to go out of your way to find something to do or find a way to get into trouble. I think it’s a great place to be able to go play football and just focus on it every single day. So for rookies, you tried your entire life to get to this level. Just because you have a couple dollars in your pocket, there’s no reason to change what you’ve been doing.”

Rentals and roommates are common for most Niners rookies. In fact, for any rookie taken lower than the second round, Moss recommends they do not buy a house until they’ve proved themselves on the field.

The 49ers foot the bill for housing through training camp, and when the roster and practice squad are set, players have options, including corporate housing, hotels and apartments. Beyond roommates, they are offered multiple avenues that can help save money. One method is to sign a shorter-term lease.

Although most buildings charge a premium for shorter or month-to-month leases, the Niners have relationships that can help facilitate such agreements a bit easier. It might cost more on the front end, but that money can be saved by moving and training in more cost-effective locales in the offseason.

Most young players tend to opt for condos or townhouses close to the team’s training facility, which helps them be on time for team activities but provides the added bonus of easy access to team-provided meals and weights.

That doesn’t mean it’s always easy. Monica Thomas took one player to 20 rental properties in a three-day span. Most players will look at five or six places and find themselves having to adjust their criteria because certain things aren’t necessarily attainable in their price range.

“It’s important for them to get established, get comfortable with the areas, and there’s so many little pockets in Santa Clara County that we advise maybe a rental the first year to get really comfortable with the area for a year before jumping into home purchasing, unless they really want to get it done,” Thomas said. “But we just want to make sure, especially in their age group, that they have a full grasp of what they’re getting into because every investment is important.”

In 2021, the rookie minimum base salary of $660,000 is still a lofty number for the average citizen. But California’s 13.3% state income tax rate remains the highest in the country. Although players are paid only in regular-season game checks based on where those games are played, the Niners are certain to have at least nine checks paid at the California rate every season.

So, while Lance will soon sign a fully guaranteed, four-year, $34.1 million contract with a $22.1 million signing bonus, he will ultimately take home something closer to $18.7 million, according to Spotrac. That’s more than enough for a large, comfortable home, but it helps explain why Lance is leaning toward renting for at least his first season and why he was grateful for his coach’s warning.

“I knew it would be kind of crazy, but it definitely helped giving me a little bit of a heads-up,” Lance said.

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