SF’s Record-Breaking Rent Drop. Prices Down 11.8% from 2019
Thanks to ABC7 for letting us know that San Francisco rents are continuing to drop by a record pace as companies embrace remote work.
According to Zumper, Rents for one-bedroom apartments in San Francisco have dropped by 11.8% since June 2019. That’s the largest year-over-year decline, beating last month’s record.
Read the full July report from Zumper.
Though the price drop is a good news for renters who do want to stay in SF, the city still has the most expensive one-bedroom rents in the country, with a median one-bedroom rent costing $3,260, (down from $3,360 last month) according to Zumper.
San Jose ($2,300) and Oakland ($2,300) don’t fare much better in the July rental survey with median one-bedroom rents tied for 4th and 5th in the nation.
Here are all the 1BR & 2BR YoY price changes in the Bay Area pic.twitter.com/5xgjgLuFKe
— Anthemos Georgiades (@anthemos) July 1, 2020