SAN FRANCISCO—The median rent for a one-bedroom apartment in San Francisco has reached a new peak of $3,690, according to a survey from Zumper, a home and rental app for apartments. That amount is nearly 9 percent higher than the median rent of last year, the survey found.
The increase is nearly 30 percent higher than rent in New York City and more than double the prices in Miami. Seattle came in at $1,970 for rent per month and Washington, DC, had a price range of $2,150 per month.
With expected tech IPOs from San Francisco-based companies like Airbnb, Pinterest, Uber and Lyft, all likely to draw more people into the city, there is little hope of relief. San Francisco is not the only city to be hesitant with these companies. South Lake Tahoe, New York, and Paris are cracking down on short-term rentals, and are concerned about housing availability and neighborhood impact.
According to the survey, while the price of rent in San Francisco has risen, the median price of a one-bedroom apartment across the United States dropped nearly half a percent.