If you’ve got an afternoon hankering for a bit of rent data, apartment rental site Zumper has another one of their trademark San Francisco rent maps, wth the pricey, red meat markets looking like a rare steak.
You can no doubt guess the findings: South Beach is the city’s most expensive neighborhood (at least on Zumper, which draws these figures from some 2,200-plus listings on its own site), averaging $3,860 for a single bedroom apartment.
That beats out SOMA by only $10, which tied with the Financial District for second place.
The cheapest neighborhoods are likewise where you'd expect: Excelsior pulls up the rear, charging $2,010 for a bedroom. The always reliable Tenderloin is number two at $2,250 (its central location always adding a little extra value there). And your next best option is Bayview, for $2,400/month.
The potentially intriguing thing is what hasn’t changed: Although the citywide Zumper median of $3,590 is both A) terrifyingly high, assuming years of shell shock haven’t made you immune to such things, and B) a 2.6 percent year over year increase, it’s still up only 0.8 percent from last month.
Analysts at places like Paragon contend that the mostly sort of leveling of housing prices, which has now been consistent for more than half the year, is due to the supply injection from so many new housing projects coming onto the market.
Zumper also proposes the idea that maybe we just maxed out on what people were willing to pay to live in San Francisco. The notion that, in fact, there is a ceiling somewhere is potentially heartening, as new batteries of data are already prepping for launch in the first week of July.
- Mapping SF Rents, June 2016 [Zumper]
- Prices Flatten, But Shortages Loom [Curbed SF]