Too Damn High Indeed!
Average rent in San Francisco jumped 19% this year.
“Priceonomics puts the median price of a San Francisco apartment renting today at $3,600, up from $3,023 last year. Studios are fetching $2,300, one-bedrooms come in at $3,120, the median two-bedroom costs $4,000, and three-bedrooms are going for $4,795.”
“The numbers are a good indicator of why any eviction from a rent-controlled unit today is also an eviction from San Francisco entirely: prices are just too damn high to find a new apartment at a comparable rate.”
It’s a national problem: the foreclosure crisis made former owners into renters, the federal government cut housing assistance, and now more than 28% of Americans pay more than half of their salaries for rent.
Mother Jones: National Data on Rising Rents