The Changing Landscape of the City
Long time San Francisco residents will notice something strange in the above charts: historically inexpensive neighborhoods, especially downtown and the surrounding areas, are now some of the most expensive...Over the past year, rents have continued to increase, but not uniformly. Asking rents have increased tremendously downtown, mid-market, and in the southern part of the city that offers the shortest commutes to the South Bay.
Our friends at Priceonomics are tracking just how hot the SF rental market is. They are calling it a rent explosion! Below are the updated averages for a 1bd in the City by the Bay, broken down by neighborhood and year-over-year.
Wall Street Journal says:
Rent growth exceeded 6% over the past year in San Francisco, San Jose and Seattle....But household incomes have stagnated, resulting in a financial squeeze for a growing number of renters.
Zumper crunched their numbers and found the rental increases weren't city wide since January 2013! Marina, SOMA, Dogpatch, Bernal Heights saw highest gains. But some places went down, contrary to popular belief.
Modern Luxury breaks down the cheapest and priciest rents around San Francisco: "According to a simple linear regression we ran, for every mile that you move away from San Francisco, you save $17 a month on rent."
Things Ain't Going Pretty for Jonathan Pretty! His Canada Landlord Cancels Lease...Because Jonathan is Gay!! That's Cold!
In Today's Episode of Crazy Things Rich White People Do: $2M Mansion in Marin Burns to The Ground The Day of Tenant Eviction! Arson or Coincidence?!
SF Video Flashback: 'Pushed Out For Profit' 1978 Film Depicts Battle Over Escalating Rents...Times Haven't Changed!
Mission Local recaps the documentary:
Imagine rents going up three, four, even seven times in a single year! This was the case for many Mission and San Francisco residents in 1978, the year before the Board of Supervisors approved rent control. Documentary film maker Charles Bolton and the production company Optic Nerve, now Ideas In Motion, caught the angst in “Pushed Out For Profit.” The film aired on KQED on Sept. 6, 1978.
Seems San Francisco has always been the battle ground for the have's and have-not's. Rising rent and real estate prices are as contentious now as they were then. Check out the cameo from Harvey Milk! Hop over to Mission Local to see 6 more quick clips.
The apartment rental startup Zumper has updated its maps of the median rents for one and two bedroom apartments in San Francisco by neighborhood. It found that the median price for a one-bedroom in the city is now $2,764. The median price for a two-bedroom is $4,000.
Got a tweet asking why rent is so darn much in SF?! See below. Did I miss any explanations?
Landlord Charged With Assault After Spanking Tenant’s Bare Buttocks For Late Rent!...Um, Sound Like HankyPanky to me!
This is some kinky *ISH if you ask me! First off, what 53yr old landlord (once named Citizen of the Year) wants to spank his tenant for being "behind" (pun intended) $2800 on rent? Hmmm, suspicious! What is weirder , according to the news report, is that the 29 yr old tenant obliges, bends over and lets the landlord spank him a few times. Is that how they do it in Ohio?!
Local supermarket magnet, Ron Kronenberger, 53, told cops he had warned the tenant, who owed $2,800 in back rent, “If you’re going to act like a child, I’m going to treat you like one,” before he whipped the 29-year-old man on his bare bottom four times with a belt, leaving “little marks” on his behind, Fox8.com is reporting.
I've blogged a bit about 'Rent To Own' (especially about Bravo TV Housewives Kim Zolciak & Adrienne Maloof). Glad CNBC asked me to weigh in on this phenomenon for their article Rent to Own Homes: an Option to Consider? Generally speaking, I dont' think it a great option but sometimes it can be a last resort for certain people desperate to get into a certain area. What do you think, guys? Pros/cons?
"Renting to own is also a way to get into a desired neighborhood in a timely matter, as with parents who need to be in school district for their kids, or people who are uncertain of their timeline, according to San Francisco real estate professional Herman Chan. "It's a way to get into a house without committing to a 30 year mortgage," he said."
New York Times published a totally sweet opinion piece about SF homeowners vs SF renters. Writer Peter Orner says his neighhors, who are renters, contributed immensely to the community and how they will be sorely missed when their house is sold (gasp!) to a buyer. "I fear that the more affluent this area becomes, neighbors — people who look out for each other — will become fewer and farther between."
But um, can't homeowners also be devoted & involved to their neighborhoods too? Gee, didn't know homeowners were such cold heartless souls!!
They say it's tough to be a home buyer now with a scarity of inventory, but it's just as bad for renters! Apartment List breaks it down below. Their snazzy infographic tracks rents alongside the tech IPO's.
As Seen On