San Francisco Mayor Daniel Lurie is expected to address the city’s high cost of living Thursday as a new report shows rents continuing to climb.
Affordability has been a recurring focus for Lurie and was a central issue in his State of the City address earlier this year. Details about which aspects of affordability the mayor plans to address Thursday were not immediately available.
The discussion comes as San Francisco continues to see the effects of the AI boom, including on the rental market.
New numbers from rental marketplace Zumper show the cost of a two-bedroom apartment in San Francisco has increased 24.6% compared with last year, with monthly rent now topping $6,100.
San Francisco isn’t the only Bay Area city seeing higher rents.
NBC Bay Area’s Ginger Conejero Saab has the full report in the video above.