The whole Bay Area shows a rental market on fire
We already knew the rent was too damn high, even before we published a report this February showing not only that the median for a one bedroom apartment in the city had jumped to $3,460, but that even formerly cheaper neighborhoods were now among the pricey. (To check out a map of the city’s crazy rents by ‘nabe, go here.)
Apparently though, they weren’t high enough. According to Zillow, the new median rent in San Francisco is $4,225 a month. Zillow’s data compose the “Zillow Rental Index” (ZRI). This index shows rents up 16% year-over-year (YOY) this April, and take into account all types of rentals in San Francisco proper, from single family homes to condos to in-laws.
The whole Bay Area, in fact, shows a rental market on fire. Increased rents in Oakland (up 21.6% YOY); Berkeley (up 30.9% YOY); Emeryville (up 29.5 YOY); San Jose (up 14% YOY) and even Daly City (up 201.1% YOY) make the San Francisco Metropolitan region the fastest growing rental market in the USA.
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Wow. I bet there aren't many farmers/crabbers/chicken herders living there. Them gays sure got some money. Must be the jobs they get with all them worthless college degrees.
ReplyDeleteOnce again a city with rent control that actually has some of the highest rates in the nation. Government control of a part of the economy once again fails the common man. But hey lets raise the minimum wage so the poor in San Fran can afford those apartments.
ReplyDeleteGays always drive up property values.
ReplyDeleteWe could use a bunch more of them in Salisbury then.
ReplyDeleteSo that's why SF has so many homeless. "Burger flippers" don't deserve to make enough to live indoors.
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