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San Francisco Rents on the Rise

Rents in San Francisco are (surprise) on the rise! As less people qualify for loans due to the tighteninig restrictions in the mortgage industry (restrictions that I agree with wholeheartedly), more people need to rent, rent, rent their homes in San Francisco. And what happens with supply & demand? As demand goes up, supply goes down, and prices skyrocket.

One analysis points out that "In San Francisco, a full-time worker needs to earn nearly $30 an hour to afford a modest two-bedroom apartment. In West Virginia, the same "housing wage" is about $10 an hour."

Check out these thoughts from across the internet on the San Francisco rental market:

Bay Area rental market roars back
Rents on the rise in San Francisco
As rent prices rise, families seek shelter

Luba's San Francisco Real Estate Blog

Posted by Luba Muzichenko, San Francisco REALTOR® on 09/23/2007 01:59 AM

Comments (2)

san francisco real estate, san francisco rental market

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2 Comments on San Francisco Rents on the Rise

SEP

2007

what are some common rent criteria price wise along with sq. ft. I am sure location has plenty to do with it. a standard rent scale would be nice to know about.

There is a fabulous site, http://mullinslab2.ucsf.edu/craigstats/ that provides stats from www.Craiglist.org. Most of the San Francisco rentals end up on Craigslist, and this site graphs all of the prices. Of course, neighborhood has a WHOLE lot to do with it. Square footage likely does too, but there are no real accurate graphs that track that (hard to since most listings ignore square footage all together).

I've seen 1BR's run from $1250-3500

I've seen 2BR's run from $1700-7500 (the $7500 was on Russian Hill with 2 garages, each garage alone could rent for $500 a month)

I've seen 3BR's run from $2300-$10000 ($10K in Nob Hill, again with 2 garage spaces... seeing a pattern here???)

4BR's are rare... $3200-7500 currently...

And the numbers go from there. I have to admit, I'm a poor statistician. I'm a great agent, but a very poor statistician. Hope these numbers help though!

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