The number-crunchers at Priceonomics released a new report on San Francisco’s rental market late last week, and it generated a lot of teeth-gnashing around town. Looking at the City as a whole, this was the big takeaway:
Rents aren’t just high in San Francisco, they’re rising quickly. In June 2011, the median price for a one bedroom was $2,195. Two years later, the price of a one bedroom has increased 27% to $2,795. During the same time period, the price of a two bedroom apartment rose 33%. That’s almost 10 times the rate of inflation during those two years.
Oof! So how has the Bernal rental market fared amid all this?
On the bright side, Bernal remains relatively affordable — with the emphasis on relatively. Bernal is the 23rd most expensive neighborhood for 1BR rental units, coming in just ahead of the fogdwellers in the Inner Sunset:
On the downside, Bernal’s reputation for stylish fabulousness is getting around, and glamour-seekers from far and wide now want to live here. That shows up in local price trends:
Nearly all rental apartments in San Francisco are getting more expensive. But some neighborhoods are getting more expensive faster. The neighborhoods that are increasing in price the fastest are the ones that used to be somewhat affordable like Civic Center, Bernal Heights, and the Mission.
In fact, Bernal Heights has experienced the City’s second-largest rise in one-bedroom rental rates since 2011:
And if for some morbid reason you’re curious about the going rates for rental units in Bernal Heights right now, here’s your infographic:
For more in that vein — along with some discussion about causes and effects for the rapid rise in rental costs — read the whole article.
GRAPHICS: via Priceonomics