• Home
  • Latest
  • Fortune 500
  • Finance
  • Tech
  • Leadership
  • Lifestyle
  • Rankings
  • Multimedia

Trendingnow

1

Jeff Bezos wants the bottom half of earners to pay zero income tax—he says nurses making just $75K should save $12K a year

2

Indeed chief economist says we’re entering an era of ‘great mismatch’ thanks to a generational imbalance of workers

3

Apple’s Steve Wozniak says he cofounded the tech giant after 5 rejections from HP—not to ‘make money.’ For years, his paycheck was just $50

1

Jeff Bezos wants the bottom half of earners to pay zero income tax—he says nurses making just $75K should save $12K a year

2

Indeed chief economist says we’re entering an era of ‘great mismatch’ thanks to a generational imbalance of workers

3

Apple’s Steve Wozniak says he cofounded the tech giant after 5 rejections from HP—not to ‘make money.’ For years, his paycheck was just $50
Tech

Facebook Gives Employees Big Money to Move Closer to Work

By
Reuters
Reuters
Down Arrow Button Icon
By
Reuters
Reuters
Down Arrow Button Icon
December 17, 2015, 7:57 PM ET
Top Tech CEO's Speak At TechCrunch
SAN FRANCISCO, CA - SEPTEMBER 11: Facebook founder and CEO Mark Zuckerberg speaks during the 2013 TechCrunch Disrupt conference on September 11, 2013 in San Francisco, California. The TechCruch Disrupt Conference runs through September 11. (Photo by Justin Sullivan/Getty Images)Justin Sullivan--Getty Images

(Reuters) – Facebook is offering employees at its Silicon Valley headquarters at least $10,000 to move closer to the office, a reflection of the challenges many tech companies face in the increasingly expensive and congested San Francisco Bay area.

To qualify for the payment, which the social networking firm started offering in the last 12 months, according to current and former Facebook workers, employees must buy or rent a home within 10 miles (16 km) of the Facebook campus at One Hacker Way, a desolate strip of road overlooking a marsh about 30 miles (48 km) south of San Francisco.

Some Facebook employees with families to support could earn a one-off payment of $15,000 or more for housing costs.

Facebook‘s efforts, along with similar programs at some other technology companies including investment management technology company Addepar, data company Palantir and software firm SalesforceIQ, a unit of Salesforce.com (CRM), could help ease a major source of tension in San Francisco: an influx of young, wealthy tech workers who commute to Silicon Valley on private buses and often displace lower-income residents.

But Silicon Valley has a housing affordability crisis of its own, and if Facebook‘s program gains traction it could further accelerate the gentrification of nearby communities, especially the low-income city of East Palo Alto.

“A lot of local families are going to get hurt,” said John Liotti, chief executive officer of East Palo Alto community advocacy group Able Works.

Facebook (FB) says the program is not about social engineering. “Our benefits at Facebook are designed to support our employees and the people who matter most to them at all stages of life,” a Facebook spokesman said.

Cynics suggest the company might be looking to encourage people to spend more time in the office while also cutting the cost of its luxury bus service, whose drivers recently unionized.

For Mark Shim, an engineer who had worked at Addepar, living across the street from the Mountain View-based company earned him a $300-a-month bonus. But the money, which was a taxed benefit, wasn’t the reason behind his housing decision.

“For me, it wasn’t financially driven as my rent has gone up more than 60 percent since I moved to Mountain View and the stipend doesn’t keep up with the rent spikes in the area,” said Shim, who has since joined another company.

“If you live closer to work you are less worried about leaving at an exact time, and if you’re in the middle of solving a cool problem, you’ll spend the extra time to finish that up.”

Lissa Minkin, vice president of people at Addepar, said the perk was designed to help employees spend more time on personal interests or with their families.

“Not having a long commute makes a huge positive impact on maintaining a healthy work-life balance,” she said.

Tech workers say the commute is getting worse. What would have been a one-hour commute each way three years ago has stretched to 90 minutes or more as the tech economy has boomed and more cars hit the road.

San Francisco-area drivers spend more time in gridlock than those of any city other than Washington, D.C., and Los Angeles, according to traffic data service Inrix.

Still, plenty of young techies are willing to endure it. Take Nilesh Patel, a single technology worker who commutes from San Francisco to a large company almost 40 miles (64 km) away so he can cultivate his rich social life in the city.

“I didn’t want to move into one of those depressing bachelor complexes,” he said about the generic Silicon Valley apartment buildings that often house people like him.

Even for those who might consider a more suburban lifestyle, $10,000 doesn’t necessarily go very far in a city like Menlo Park, where the average rental is $3,600 a month, according to data from online real estate company Trulia.

And moving south won’t provide an escape from the resentment tech workers have engendered in San Francisco neighborhoods like the Mission, where community activists protesting gentrification have blockaded tech-company buses.

In East Palo Alto, once a crime-ridden city that provided an element of gritty flair amid the bland office parks and strip malls that dominate much of Silicon Valley, the recent influx of tech money has brought plenty of benefits.

Crime, including robbery, auto theft and rape, has declined over the years, according to city data. New businesses like the city’s only full-fledged grocery store have opened, and many new arrivals are trying to help by tutoring kids and donating to local causes, said Liotti.

But the newcomers, who locals call “los Facebuqueros” regardless of where they work, have also contributed to increasing evictions and sky-rocketing rents.

“We’re dealing with a huge displacement of lower-income individuals,” said Tom Myers, executive director of the Community Services Agency in Mountain View, which this month passed ordinances to try to take pressure off lower-income renters.

There’s also the chance that the housing incentives backfire.

Old hands remember a time when Facebook offered a few hundred dollars for employees who lived within a few blocks of its old offices in Palo Alto. Landlords got wind of the situation and quickly raised rents to match, they say.

For more about Facebook, watch this Fortune video:

About the Author
By Reuters
See full bioRight Arrow Button Icon

Latest in Tech

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025

Most Popular

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Fortune Secondary Logo
Rankings
  • 100 Best Companies
  • Fortune 500
  • Global 500
  • Fortune 500 Europe
  • Most Powerful Women
  • World's Most Admired Companies
  • See All Rankings
  • Lists Calendar
Sections
  • Finance
  • Fortune Crypto
  • Features
  • Leadership
  • Health
  • Commentary
  • Success
  • Retail
  • Mpw
  • Tech
  • Lifestyle
  • CEO Initiative
  • Asia
  • Politics
  • Conferences
  • Europe
  • Newsletters
  • Personal Finance
  • Environment
  • Magazine
  • Education
Customer Support
  • Frequently Asked Questions
  • Customer Service Portal
  • Privacy Policy
  • Terms Of Use
  • Single Issues For Purchase
  • International Print
Commercial Services
  • Advertising
  • Fortune Brand Studio
  • Fortune Analytics
  • Fortune Conferences
  • Business Development
  • Group Subscriptions
About Us
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • Facebook icon
  • Twitter icon
  • LinkedIn icon
  • Instagram icon
  • Pinterest icon

Latest in Tech

w
Environmentclimate change
The asphalt industry has a heat problem — and cities are running out of patience
By Aya Diab, Alexa St. John and The Associated PressMay 23, 2026
9 hours ago
SpaceX’s third-generation Starship, which NASA may use to put astronauts on the moon, makes debut in test flight ahead of blockbuster IPO
InnovationSpaceX
SpaceX’s third-generation Starship, which NASA may use to put astronauts on the moon, makes debut in test flight ahead of blockbuster IPO
By Marcia Dunn and The Associated PressMay 23, 2026
11 hours ago
Is a college degree still worth it? Here are 3 things it can teach you that AI can’t do
Future of WorkColleges and Universities
Is a college degree still worth it? Here are 3 things it can teach you that AI can’t do
By Jake AngeloMay 23, 2026
12 hours ago
Ashley Yetman
Commentarydisruption
Everyone is blaming AI for the death of ‘craft.’ Take a good look in the mirror
By Ashley YetmanMay 23, 2026
14 hours ago
Josh Smith, founder of Montana Knife Company.
SuccessEntrepreneurs
This 39-year-old quit his lineman job during the pandemic and built a $50 million company in his backyard
By Nick LichtenbergMay 23, 2026
14 hours ago
Jon McNeill
SuccessCareers
Former Tesla president shares the secret to success he learned from his former boss, Elon Musk: ‘He demands to only work with world-class talent’
By Preston ForeMay 23, 2026
15 hours ago

Most Popular

Jeff Bezos wants the bottom half of earners to pay zero income tax—he says nurses making just $75K should save $12K a year
Success
Jeff Bezos wants the bottom half of earners to pay zero income tax—he says nurses making just $75K should save $12K a year
By Preston ForeMay 21, 2026
2 days ago
Indeed chief economist says we’re entering an era of ‘great mismatch’ thanks to a generational imbalance of workers
Success
Indeed chief economist says we’re entering an era of ‘great mismatch’ thanks to a generational imbalance of workers
By Emma BurleighMay 22, 2026
1 day ago
Apple’s Steve Wozniak says he cofounded the tech giant after 5 rejections from HP—not to ‘make money.’ For years, his paycheck was just $50
Success
Apple’s Steve Wozniak says he cofounded the tech giant after 5 rejections from HP—not to ‘make money.’ For years, his paycheck was just $50
By Preston ForeMay 22, 2026
1 day ago
Microsoft reports are exposing AI's real cost problem: Using the tech is more expensive than paying human employees
AI
Microsoft reports are exposing AI's real cost problem: Using the tech is more expensive than paying human employees
By Jake AngeloMay 22, 2026
1 day ago
Bolt CEO says he let go of his entire HR team for creating problems that didn’t exist: ‘Those problems disappeared when I let them go’ 
Workplace Culture
Bolt CEO says he let go of his entire HR team for creating problems that didn’t exist: ‘Those problems disappeared when I let them go’ 
By Preston ForeMay 19, 2026
4 days ago
Current price of oil as of May 22, 2026
Personal Finance
Current price of oil as of May 22, 2026
By Joseph HostetlerMay 22, 2026
2 days ago

© 2026 Fortune Media IP Limited. All Rights Reserved. Use of this site constitutes acceptance of our Terms of Use and Privacy Policy | CA Notice at Collection and Privacy Notice | Do Not Sell/Share My Personal Information
FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. FORTUNE may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.