$1300 a month isn't a lot, but I would be really surprised if there's not somewhere in the SF bay area or a nearby city (Sacramento, etc) where it couldn't cover a small apartment or studio, utilities, and normal monthly costs like groceries.

As noted in other comments, it makes the focus of the article feel disingenuous as compared to people who are being priced out of their homes and don't have any safety net at all.