Renting an apartment in San Francisco can be tough, as prices have risen so dramatically in recent months that the city has become unaffordable for many.
For the first time, renting a one-bedroom apartment this year would $4 in San Francisco than in New York City. According to new data from real estate marketplace $4, rent for a one-bedroom apartment in San Francisco rose by 13.5% in 2014, with some neighborhoods seeing increases of up to 30%.
New apartment developments and high demand in tech-centric neighborhoods like the Mission and SoMa led those areas to reach record high rents. In the Mission, the cost of a one-bedroom apartment rose 20% to a record-high median rent of $3,240 a month. In SoMa, the median rent for a one-bedroom apartment was $3,500 a month, up 9.4% from 2013.
Zumper compiled all of the data for the year in this $4, which breaks down the year-to-year rent increases by neighborhood.
