In August, for the first time, San Francisco's median rental rate surpassed New York's, according to data from rental website Zumper. SF has clung to the top spot ever since, with a city-wide median for units of all sizes standing at $2,710 (compared with New York's $2,570 and the sinkhole's $2,800). Now, using the latest figures from their November rental report, Zumper has mapped the median rent of a one-bedroom in San Francisco. Overall, the city's median price for a one-bedroom is $3,350. But what about neighborhood by neighborhood?
Russian Hill remains in the top spot for the city's most expensive neighborhood, with a median of $3,830, which is down a bit from September's figure of $4,000. Now, though, the Financial District has ousted South Beach from the No. 2 spot with a median one-bedroom rent of $3,700. (South Beach is now tied in third place with the Marina, followed by SoMa in fourth place.)
The Outer Mission/Excelsior was the cheapest place in the city to rent in November, with a median of $1,750 per month—unchanged from October's figures. The Bayview, which has seen quite a lot of action in the housing market of late, jumped from $1,900 in October to $2,200 in November. Prices in the relatively affordable Outer Sunset ($2,100) and Inner Richmond ($2,300), however, have not budged. Meanwhile, the Mission—which hovered at a very cheap-seeming $2,500 in September—increased from $3,000 in October to $3,240 in November. That's still a good hundred bucks below the city's overall one-bedroom median of $3,350.
A note on the data: Zumper gets most of its data from direct posts to its site, meaning that listings get posted there directly and are not duplicates of other listings elsewhere on the web. The data cover new posts to the site, so today's map reflects rates for apartments being rented now, not those rented out before November 2014. Zumper also vets all the brokers, landlords, and property managers who list on their site, meaning that scammers don't get listed and you're not going to see fake, low-priced rentals. Many of the units listed tend to be newer developments built after 1979, which experience higher turnover and have more access to amenities than cheaper, rent-controlled counterparts.
· Zumper [Official Site]
· Yikes, Are San Francisco's Rents Closing In on New York's? [Curbed SF]
· One-Bedroom Sinkhole Seeks $2,800/Month; Cats OK [Curbed SF]
· For the Fourth Month Straight, SF's Median Rent Tops NY's [Curbed SF]
· Bayview Booming: SF Home Appreciation by Neighborhood [Curbed SF]