Rents have been parachuting down in San Francisco some 9 percent from last year, yet the city is still the most expensive for rentals in the U.S. and, as well, on the entire planet. If you’re looking for the most expensive rental place to live (along with all of our other very great cultural, lifestyle “mosts”) then you’re in the right place. To catch up where the hot rentals are, Zumper has created a color-key map (see link below) that shows the least expensive single-bedroom rentals over in the western part of the city (Outer Richmond and Outer Sunset) to the really pricey eastern SF neighborhoods: Soma, South Beach, Financial District and Mission Bay. Pacific Heights in the north central SF area is the most expensive with a median price for 1-bedroom units at $3,750 a month.
And 2-bedroom units have come down 7.6 percent compared to last year, yet standing at a median of $4,500 a month. Crystal Chen, an analyst with Zumper, in an interview with bizjournal.com concludes that the down ticking of prices is from a lessening interest in high end luxury rental homes. Chen further said that the upcoming summer season will be the real litmus test of further declines in rental prices or that they pick up as more people are looking for places to live in the city.
Click here to go the Zumper map for a birds eye view of rental prices.