Back in August, San Francisco tenuously jumped into the top spot on rental website Zumper's list of cities with the highest rents. In the two months since, San Francisco has strengthened its hold on that spot and now has a solid lead, with a median October one-bedroom rental rate of $3,370 to New York's $3,000, and a price of $4,500 for two bedrooms, compared with only $3,500 in New York. San Francisco's prices also appear to continue their climb, with increases in the 8-11 percent range, while New York's have flattened out over the past quarter.
Although San Francisco has firmly established itself as the most expensive city in the country for rentals over the past few months, its rents by neighborhood are still trumped by some of New York's ritzier corners. Tribeca remains the most expensive neighborhood in which to rent, followed closely by NoMad (which we'll confess to not knowing was a real place), the Flatiron District, DUMBO, NoHo, and Chelsea. San Francisco creeps into the ranks of top neighborhoods with Russian Hill, which comes in at number 7, and is joined by South Beach, at number 9, on the top 10 priciest rental neighborhoods in the country.
· Monthly Rent Report: October 2014 [Zumper]
· Zumper [Official Site]
· Yikes, Are San Francisco's Rents Closing In On New York's? [Curbed SF]