SF Real Estate Buzz has posted some ad hoc observations on the market. Stay strong, renters— today's rental market lends a new definition to the phrase "concrete jungle." The report:
· Rents are up 10-15% from last year. One bedrooms are averaging in the $15-1,600 range (though the report notes that $1.5-$1.6k "sounds low"). Two-bedrooms average $2,500 to $6,000, with $3,200 as the median.
· The north side of town—PacHeights, Marina, Telegraph/Russian/Nob Hill, North Beach— commands the highest rents. Units go faster, and those nabes tend to attract the "hightest quality"
· Hayes Valley is hot. SoMa and South Beach units rent more slowly. Lofts go fast, especially if they're north of Market Street. Competition is fierce for units below $2,500.
· The State of the State of the San Francisco Rental Market [SF RE Buzz]