San Francisco rent has risen dramatically over the last few years. According to real-estate marketplace Zumper, San Francisco is officially the most expensive rental market in the country, with the median rent for a one-bedroom apartment standing at a jaw-dropping $US3,460.
A Business Insider reader asking to remain anonymous sent us a photo they snapped of a rental flyer in Lower Pacific Heights. It includes a list of apartments available for rent in various parts of San Francisco.
And it isn’t pretty.
By way of comparison, in fall 2010 you could rent a 3-bedroom unit in a safe but boring neighbourhood like the Sunset for a little more than $US3,000. Now, that will get you a studio in the same neighbourhood.
Many have attributed the astronomical rise in rental prices to the influx of high-salaried tech workers to the city. But a lack of housing and strict rent-control laws that keep landlords from raising rents on long-time tenants to market rates are also factors.
Regardless of the cause, paying nearly $US5,000 for a one-bedroom apartment in the Inner Sunset seems pretty insane.