San Francisco's Median Rent Climbs to a Whopping $4,225

[Newsjock]

Source: Curbed

Rents in San Francisco continued their upward march in April 2015, according to the just-released Zillow Rent Index. When we last checked in with Zillow's index after the first quarter of the year, it showed rents up 15.5 percent over the same time last year. That number nudged upward in April, with rents now up 16 percent over April 2014 and 1.1 percent over March of this year.

If that growth rate continues, San Francisco will easily be on track to hit double-digit rent increases again in 2015. The median rent in San Francisco, according to the index, now sits at a terrifying $4,225/month.

Although growth in San Francisco was huge, growth in Berkeley was much larger, hitting 30.9 percent year over year. Oakland saw 21.6 percent increases over April 2014, Emeryville had a 25.9 percent surge, and Daly City experienced 20.1 percent year-over-year growth in rent. The San Francisco metro area as a whole was up 14.9 percent over the year before, putting its growth level well above any other major city in the United States.

Read more: http://sf.curbed.com/archives/2015/05/22/san_franciscos_median_rent_climbs_to_a_whopping_4225.php

[irisblue]

1. for an apartment!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

this is 7 1/2 times my mortgage here in Ohio....holy cow. Location location location.

[yeoman6987]

13. Oh my gosh. That's way more then my two mortgages

On two different homes. They must want to live in San Fransico badly.

[Yo_Mama_Been_Loggin]

2. Makes the $1615 in Seattle seem like a bargain

Shit my mortgage with escrow's half that.

[dixiegrrrrl]

3. My mortgage ( No escrow) is under 500.00

and we have a 2,000 sq foot house, 2 bath, 3 bedroom, den, fireplace, full covered double carport, and 1.5 acres.

But a similar house up the street, on 1/2 acre lot, is renting for 800.00.

[DawgHouse]

6. Your profile says you are in Alabama.

What part of Alabama? My family is from northern AL

[dixiegrrrrl]

8. Monroe county.

A rather neat little corner of the state that the storms seem to avoid.

I have lived in several places on the West Coast and am in awe of the comparatively low housing costs down here.
Made retirement decision a snap.

[DawgHouse]

11. Oh, near Franklin AL!

I have roots there too. Very nice, not too far from the beach either.

Yes, I imagine you are in a good place for retirement.

[Yo_Mama_Been_Loggin]

10. Without escrow mine's $500 also

Insurance and property taxes jack it up to $800 a month. I'm a little north of Seattle and bought my house in 1988 so I've kind of lucked out.

[dixiegrrrrl]

12. Yeah, you did luck out. Housing was pricey back in '88 up there, still.

I got priced out up there, had to move down here.

Another plus for buying and retiring in some Southern states.....we pay zero property taxes.
Good insurance is running me 700.00 a year.

[AtomicKitten]

4. My rent was just raised $500 a month.

I've lived here in SF 10 years without a single rent increase, so it was expected.

Brutal, but expected.

[Travis_0004]

5. 4200 will pay my mortgage for a year, and I have an acre of land to relax and 1500 sq feet.

[xfundy]

7. Everybody wants to live among 'libruls'.

I read the SF paper online occasionally, and the comments on stories show many more cancervative opinions than I used to see, most likely as a result of the booming economy and influx of techies from elsewhere. By the time they leave there, most of them will see there's nothing scary about gays, liberals, etc., so that's probably a good thing.

A good shaker should send a lot of them running back home, and hopefully rents will go back to levels mortals can afford.

[LeftyMom]

9. 2 years of that would buy my house outright.

And it takes me a whopping 90 minutes to go into the city if something draws my interest.

[gwheezie]

14. I guess I'll stay in the woods

I have a 15 acre hobby farm with a house, barn and outbuildings and my mortgage, taxes and insurance are $900 a month. Of course the county library is in a single wide so there is a trade off.

[Liberal_in_LA]

15. ..

[dsc]

16. that is just under 5 times my rent

It also means that SF should have a median income of nearly 150k to support that (assuming people spending one third of one's income on rent).

[GGJohn]

17. The main reason I would never live in SF.

[kelliekat44]

18. The rent is too damn high!! And it is serious. this is what hurts small businesses more than taxes

and it is one of the principle reasons for stores closing in malls and main street.

[roamer65]

19. If the drought continues for a few years it will change.

There won't be the enough people left in SF to support it.