'Rent is still down in San Francisco by 16% and it's still the second most expensive market in the country,' an expert tells ABC7 News. Even for a successful Bay Area tech professional we spoke to, a 1-bedroom in SF is an 'elusive dream.'
SAN FRANCISCO -- Three Bay Area cities make the top 10 list for most expensive 1 and 2 bedroom apartments, according to data analyzed by ABC7 News. That's in spite of rents not having fully rebounded from the pandemic.
Melissa Kargiannakis is a Bay Area tech professional, but despite her success says she can't afford to live alone in San Francisco.The ABC7 News Data Team analyzed data from the website Zumper, capturing median prices for 1 and 2 bedroom apartment listings.On the list of most expensive one bedroom rentals, San Francisco is second at $2,850 a month -- only New York surpassed that cost. San Jose is fourth at $2,390 a month and Oakland is eighth at $2,100 a month."I wish.
Brad Hirn is the Lead Organizer at the Housing Rights Committee of San Francisco. He says corporate landlords drive the market up. "Whether it's rent increases or fees or loopholes in existing rent regulations, then it pushes the overall rents up," said Hirn. "We just don't have enough affordable housing and we need more," said Shanti Singh, Tenants Together Communications & Legislative Director.
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