Looking for a place to rent in this city can be a bit of a depressing exercise — in fact, we have an entire column dedicated to just how much of a bummer San Francisco's apartment rental market is. Well, we now bring you some hard numbers to back that pain up, and the reality is just as awful as you likely imagined. A March report from apartment rental company Zumper informs us that the Bay Area is home to three of the country's top five most expensive rental markets.
The top five most expensive cities for 1-bedroom median rents according to Zumper are, in order, San Francisco, New York City, Boston, Oakland, and San Jose. That SF tops the list is in part thanks to a jump in February rent — "rent prices increased 2.6% this February to reach a median one bedroom of $3,590," notes the report.
San Francisco has always been an expensive city, and it is worth taking a close look at Zumper's methodology before accepting that $3,590 number at face value. As we pointed out last summer, sites like Zumper have data weighted toward new, non-rent controlled units. As a result, the actual median one bedroom cost is almost certainly lower than what this report suggests. However, it is likely an accurate measure of relative cost — that is to say the conclusion that the Bay Area is home to three of the five most expensive rental markets in the country is likely correct — regardless of the exact cost.