Crazy rents? You ain’t seen nothing yet

While it’s nothing novel to say that San Francisco’s rents are phenomenally expensive, the San Francisco Chronicle has come out with some new jaw-dropping figures. Read on, but be sure to keep your chin from hitting the floor, will you?

First off, let’s look at the pricey studios, to the tune of $2500 to $4500 per month. These are at The Wilson, located at Ninth and Market. This location – which the Chron notes is only recently appealing for most potential tenants – is newly refurbished and offers luxury studios that are meant to mimic lofts and in fact are lofts in the case of the higher rents. True, they have amenities galore: yoga studio, fitness center, rooftop lounge, media center, Wheel Works bicycle shop, conference room, open pet policy, door attendant and a whopping 98 WalkScore. The Chron estimates that at this rent, you’re looking at spending between $30K and $44K for rent a year. That ain’t cheap!

Now let’s look at one-bedrooms, specifically, the Lakewood Apartments at Lake Merced, which are going for just shy of $1939 to $2364 per month. Wasn’t this once an affordable (though affordable is of course a relative term, as the Chron points out) neighborhood given that it’s more focused on faculty and students than tech executives? Not anymore. These one-bedrooms range between 604 and 820 square feet and include amenities such as basketball courts, covered parking, storage, a clubhouse, laundry facility and full-service concierge, as well as a fitness center.

Let’s turn to two-bedrooms. A Marina flat located on Scott at North Point runs $5500 a month. Now, it’s got some nice amenities – formal dining room, shared garden, wood-burning fireplace, parking space, walkability to all the Marina’s offerings – but still, that’s more than $66K per year just for rent. One word: wow.

Dreaming of San Francisco? Cece Blase offers local advice to San Francisco buyers, sellers and owners– and feeds the dreams of those who wish they could live in Tony Bennett’s ‘City by the Bay.’ Call 415-577-0809 or email cblase@paragon-re.com. www.ceceblase.com