$48k is $4k monthly; $60k is $5k. While you certainly can pay that much, you don't have to. Take this $2k listing:
https://sfbay.craigslist.org/sfc/apa/d/san-francisco-apartme... Or this $3k one: https://sfbay.craigslist.org/sfc/apa/d/san-francisco-861-pos...