Welcome to the Bay Area — where you (mostly, your rent) can only go up from here!
If you thought rent in San Francisco couldn’t get any higher — you were very wrong.
Apparently San Francisco rent has reached a new peak of $3,690, according to home and apartment rental app Zumper.
That’s also a rise of nearly 9 percent from the same time last year, the survey found, according to CNET.
Here are some more fun tid bits about San Francisco’s skyrocketing rent:
- SF rent is nearly 30 percent higher than NYC
- SF rent is more than double prices in Miami
The survey also found that while rent increased greatly in San Francisco, the median price of one-bedroom apartments everywhere else in the US apparently dropped nearly half a percent during the same time.
In a nutshell, rent in San Francisco got more expensive while rent across the US got cheaper.
Could this explain the Bay Area exodus?
A growing number of homeowners are moving out of the Bay Area, citing everything from traffic and lack of affordable housing to high taxes and high cost of living.
If $3,690 seems a bit steep to you, you can always move to the South, where an entire town in the heart of Georgia is up for sale at $1.7 million.
That town does include several homes.