In a turn of events everyone saw coming but dreaded nonetheless, the median rent in San Francisco has risen once again to an insanely high $4,225 per month according to data compiled by Zillow. That's a whopping 16% increase compared to last year's numbers, which were already 14% higher than the year before. It's no wonder California itself is so unaffordable.
Zillow's Rental Index accounted for all types of rental properties in the city, from one-bedrooms to condominiums. It's not just San Francisco proper experiencing this impossible rate hike, though: the data shows staggering rent escalation throughout the entire metro area surrounding the city, with rents in nearby Daly City experiencing a 201.1% year over year increase. The word "unsustainable" leaps to mind.
Basically, unless you're CFO of a prominent Silicon Valley startup, it's time to start considering your options. And frankly, even if you are that dude, if trends continue, you'll be priced out of the market soon enough.
There are few things more frustrating than that phone call you get when your lease is up. It's your landlord, letting you know rent is about to go up.
It happens to people everywhere, but rent doesn't go up at the same rate everywhere. Go Banking Rates has collected year-over-year data on the median rent for a one-bedroom apartment in cities across the United States. It used the data from real estate marketplace Zillow to determine where rents have risen the most and where they have fallen the most over the last calendar year (May 2016 to May 2017).
From Los Angeles to San Diego: Every Pit Stop You Need To Make Along The Way
With zero humidity and palm trees in the rearview mirror, cruising down the Pacific coast to San Diego from Los Angeles is summer. Of course, LA traffic can make it less cruiseworthy and more bumper-to-bumper. But with authentic taquerias, whale watching, and iconic surf breaks, there’s a quintessential SoCal pit stop just about every mile of the ride to distract you. Here’s seven summer getaways you can easily hit on the way to San Diego -- just don’t forget the sunscreen and a swimsuit.
These Are the Best and Worst Cities for First-Time Home Buyers
Buying your first house is a big deal. It's a milestone for many. It's the kind of thing that will make you buy a six-pack of something nice instead of PBR because you're obviously an adult now.
While you probably won't move to another city based on home prices (or maybe you will), it's good to know what you're getting into. WalletHub has conducted a study to rank the US's best and worst cities for first-time home buyers in 2017.
The site's experts ranked 300 US cities in 23 categories that included a load of important home-buying factors, like the cost of housing, rent-to-home buying price ratio, cost of living, real estate taxes, and home energy costs.