Cookies on the Business Insider India website

Business Insider India has updated its Privacy and Cookie policy. We use cookies to ensure that we give you the better experience on our website. If you continue without changing your settings, we\'ll assume that you are happy to receive all cookies on the Business Insider India website. However, you can change your cookie setting at any time by clicking on our Cookie Policy at any time. You can also see our Privacy Policy.

San Francisco's cheapest single-family home will sell for over $500,000 - and it reveals how bad the housing crisis has become

Leanna GarfieldFeb 15, 2018, 20:07 IST

MLS

San Francisco ranks as the most unaffordable city in the United States. The median price for a one-bedroom home is around $820,000.

By comparison, the half-million asking price of the city's least-expensive single-family home on the market is a steal - or as Rick Smith, the real estate agent behind the listing calls it, "a joke."

The decrepit house is a classic example of San Francisco's housing crisis, which has accelerated in the last few years.

Complimentary Tech Event

Transform talent with learning that works

Capability development is critical for businesses who want to push the envelope of innovation.Discover how business leaders are strategizing around building talent capabilities and empowering employee transformation.Know More

He has received 12 offers over $520,000 for the home, which was awarded to one lucky bidder on Wednesday.