Last week, we examined rental website Zumper's latest rental report and learned that the median price for a one-bedroom on the rental market in May hit $3,500. Now Zumper has released a map breaking down rental prices by neighborhood over the spring quarter in San Francisco. Unsurprisingly, neighborhoods like SoMa, Mission Bay/Dogpatch, Russian Hill, and Pacific Heights were among the most expensive in the city, while more remote neighborhoods on the city's western edge like the Outer Richmond and the Outer Sunset were much, much cheaper.
The Financial District was the priciest neighborhood this spring, asking a median price of $3,995 per month for a one-bedroom. Mission Bay/Dogpatch, where high-end new rentals reign supreme, came in second, clocking in at a median of $3,910 per month. At the other end of the spectrum were the Outer Mission/Excelsior, where a one-bedroom cost just $2,000, and remote and foggy Outer Sunset at $2,250. Other neighborhoods where the asking price for a one-bedroom hasn't yet hit $3,000 included the Tenderloin, Presidio Heights/Laurel Heights, Lone Mountain, NoPa, Haight Ashbury, Outer Richmond, Inner Sunset, Glen Park, Lakeshore, and Bernal Heights.
One neighborhood where the rent looks a bit wacky in Zumper's map is Bayview, traditionally one of the city's more affordable areas. This spring, median rent there according to Zumper's data was $3,210. Zumper specifically notes that this number was driven up by new luxury housing stock available on the market, and that the median normalized for these additions was just $2,000.
As always, Zumper's data is drawn solely from the asking rents for the listings on its site, not all available rentals in San Francisco. Therefore, it isn't a measure of what all San Franciscans are paying, but it does offer one look at prices that prospective renters in the market this spring were seeing. As we noted earlier this week, the "true" median rent for the city is very, very tricky to calculate, but Zumper's figures provide a decent picture of what advertised apartments are renting for in a particular time period.
· Zumper [Official Site]
· SF's Median Asking Rent for One-Bedrooms Hit $3,500 in May [Curbed SF]
· San Francisco Rent Prices Continue Increase Into June [Zumper Blog]
· Is San Francisco's Median Rent of $4,225 For Real? Yes and No [Curbed SF]