San Francisco beats NYC in race to unaffordability
By BrickUnderground |June 2, 2015 - 12:30PM
In the dubious race called "lack of affordable rentals," San Francisco continues to trump New York City. That's according to a recent report released by real estate database Zumper. In fact, Fog City tops the list when it comes to one-bedrooms, asking a median of $3500 a month, with NYC in hot pursuit at $3100. Here in the city, Vinegar Hill saw a 5.5 percent jump in median rents from the previous month, asking $3670 a month and jumping to 14th most expensive neighborhood in the city. NoMad is most expensive at $4500 a month.
After NYC, there's a major fall-off to Boston, which has similar apartments asking $2230 a month. (How do you like them apples?) Seattle is practically a bargain with one-bedrooms going for $1600 a month.
But as we recently learned, hard numbers like median prices don't tell a complete story; price-per-square-foot matters, too, because then we know if we're getting more bang despite paying more bucks. Take, for example, this one-bedroom on California Street in the Richmond, a sweet neighborhood near the excellent restaurants and amazing shops on Clement Street—hello, Green Apple! Best. Bookstore. Ever.—and even more commerce on Geary Boulevard. (Plus, it's about a 10-minute drive at most to the Golden Gate Bridge sans traffic.)
Yes, it's totally not cheap. But it's 900 square feet—practically a mansion here in NYC—and has wonderful period details, like the quintessential staircase entry, crown moldings, and the like. And parking's available, which, if you know this neighborhood, is essential.
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