Last Quarter 2017: Rents Going Up in These SF Areas
We didn’t lose our place in the national firmament of zingy rental pricings. As of the end of December 2017, reflecting the last quarter of the year, San Francisco was still the most expensive city in the country to rent. We top out New York City by $500 in that record.
This was despite a slight decline in rent costs across much of the city: median one-bedrooms went for $3,390 and median two-bedroom units went for $4,380. This is according to the Zumper site. They attributed the drop to winter season jostling, with Cole Valley and Lower Pacific Heights sliding down the most at 9%. The most expensive SF neighborhoods (located in the northeast quadrant of the city) remained static in price.
The biggest rises in SF rent were churned up by Lake Street at 11% and the Mission at 8%. Crystal Chen, of Zumper, noted there’s a high demand for rentals in the Mission, alongside of new projects with higher prices just coming into the rental stream.
The least expensive rentals are out in the Other Sunset, the Outer Mission and Outer Richmond, with median one-bedrooms going for $2,700