According to the apartment hunting website ApartmentList, rents in San Francisco have dipped lower than those of NYC (Manhattan) for two consecutive months for the first time in 10 years. In July, a two-bedroom apartment in San Francisco ran a median price of $4,730. In Manhattan, it was a whopping $5,130.
These findings are unique to ApartmentList as their data for New York City focuses solely on the Manhattan market. They also study the change in prices of the same units year over year, rather than city medians, to increase accuracy.
Admittedly, San Francisco did edge New York out in the price of single bedroom apartments, with a median of $3,520. But the difference is only $10. Statistically speaking, they‘re essentially identical figures. The net effect is that, on this one site at least, San Francisco is just plain cheaper.
Read more: Curbed SF San Francisco cheaper than New York City for second month in a row