Rent Prices Leveling Off in San Francisco
Rent prices in San Francisco have been increasing for the past several years. According to GOBankingRates, San Francisco cost $123,268 per year to live comfortably, topping their list of US cities and coming in 24% higher than the second most expensive city, New York.
However, rents have been leveling off recently in the City by the Bay. As of June 2018, the average rent for an apartment in San Francisco, CA was $3,697 which is a 2.87% decrease from 2017 when the average rent was at $3,803.
There was a 2.06% increase from May 2018 when the average rent was $3,621.
Although average rent prices have been increasing, the rent of one-bedroom apartments in San Francisco has actually decreased to $3,334 a month on average (a 4.98% decrease from 2017) while two bedroom apartment rents average to $4,509 (a 2.84% decrease from 2017).
The average apartment rent over the prior 6 months in San Francisco has increased by $27 (0.7%).
Written by Chanel Qin, Edited by Jack Vasquez & Alexander Fleiss