{"id":482855,"date":"2026-10-02T15:22:10","date_gmt":"2026-10-02T15:22:10","guid":{"rendered":"https:\/\/www.newsbeep.com\/us-ca\/482855\/"},"modified":"2026-10-02T15:22:10","modified_gmt":"2026-10-02T15:22:10","slug":"san-francisco-rents-outpace-new-york-city-as-housing-crisis-deepens","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/us-ca\/482855\/","title":{"rendered":"San Francisco rents outpace New York City as housing crisis deepens"},"content":{"rendered":"

San Francisco renters are getting squeezed harder than ever \u2014 and the city\u2019s latest apartment prices<\/a> are starting to look downright outrageous.<\/p>\n

The median rent for a one-bedroom apartment in the city hit a record $4,400 a month in September, according to a new report from real estate site Zumper<\/a>.<\/p>\n

That\u2019s a staggering 25.4% jump from a year ago, putting San Francisco just $180 behind New York City, where the median one-bedroom<\/a> costs $4,580.<\/p>\n

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San Francisco renters are getting squeezed harder than ever \u2014 and the city\u2019s latest apartment prices are starting to look downright outrageous. Getty Images<\/p>\n

The median rent for a one-bedroom apartment in the city hit a record $4,400 a month in September, according to a new report from real estate site Zumper. Seventyfour \u2013 stock.adobe.com<\/p>\n

But renters don\u2019t have to look far to find listings that make the $4,400 median look almost like a bargain.<\/p>\n

Last month, The California Post profiled a San Francisco one-bedroom asking a jaw-dropping $5,495 a month<\/a>, sparking outrage from renters who questioned how such a tiny apartment could command such a massive price.<\/p>\n

And the latest numbers show that listing was hardly an isolated case.<\/p>\n

The median price for a two-bedroom apartment in San Francisco has now climbed to $6,340 a month \u2014 the highest in the country and nearly $900 more than the median two-bedroom in New York.<\/p>\n

Two-bedroom rents have jumped 26.8% over the past year, with the median price blowing past $6,000 in July.<\/p>\n

The surge is being fueled in part by a booming artificial-intelligence sector<\/a>, according to Zumper, which said AI hiring is creating a wave of new demand in a city where housing supply remains tight.<\/p>\n

People relax on a grassy hill in Alamo Square Park in San Francisco, Saturday, June 15, 2024. A row of colorful Victorian houses, known as the Painted Ladies, stand in front of modern skyscrapers including the Transamerica Pyramid and Salesforce Tower. Getty Images<\/p>\n

San Francisco Mayor Daniel Lurie speaks during a press conference at San Francisco City Hall. Getty Images<\/p>\n

The rent spike is also far outpacing much of the rest of the Bay Area.<\/p>\n

In San Jose, the median one-bedroom costs $2,890, while Oakland renters pay a median $2,100 for a one-bedroom. Those prices are also up over the past year, but nowhere near San Francisco\u2019s 25.4% increase according to CBS<\/a>. <\/p>\n

Nationally, the median one-bedroom rent rose just 0.1% over the past year to $1,518, while the median two-bedroom increased 0.5% to $1,903.<\/p>\n

\u201cThere really isn\u2019t one U.S. rental market right now,\u201d Zumper CEO Shawn Mullahy said in a statement. \u201cThe common denominator is supply: markets still absorbing the building boom are competing aggressively for renters, while markets that avoided it are tightening quickly.\u201d<\/p>\n

The housing crunch has become such a problem that San Francisco Mayor Daniel Lurie declared a \u201crent emergency\u201d<\/a> earlier this month, citing soaring rents and evictions that are expected to hit their highest level in a decade.<\/p>\n

\u201cFor thousands upon thousands of San Franciscans, the most immediate pressure right now is rent,\u201d Lurie said at a Sept. 10 briefing. \u201cAnd that pressure is rising rapidly.\u201d<\/p>\n

Lurie has proposed measures including a 10% cap on rent increases and roughly $55 million for a legal fund to help tenants fight to remain in their homes.<\/p>\n

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