SFCED | San Francisco Center for Economic Development

SF Rents Up 13.5% Overall, but Down in Some Surprising Spots

We all know that S.F. rents have gone up substantially, and listing service Zumper reports that the city saw a 13.5% increase in 2014. But when you break it down by neighborhood, it’s clear that some neighborhoods are driving that increase more than others. For example, the Mission was up 20% in 2014 and can now command $3,240 per month for a one-bedroom apartment, according to Zumper. Nearby Noe Valley saw an even bigger increase; at 29.2%, it had the largest rental increase in 2014.

Meanwhile, other in-demand neighborhoods may have reached their peaks. Nob Hill was down 6.3%, Russian Hill was down 4.3% and the Marina and Pacific Heights were both down 1.4% in 2014. “The neighborhoods in question had long led the charge in rent increases as some of the most prestigious areas of the city. In the wake of the America’s Cup in late 2013, they had enjoyed a particular run that—it turns out—wasn’t sustainable,” according to Zumper’s blog. “This is not to say that these neighborhoods are now cheap—far from it—but they have hit somewhat of a pricing equilibrium, with several of our clients mentioning that their vacant inventory in these areas has started to build up for the first time in two years.”

Read more: SFGate (blog) SF rents up 13.5% overall, but down in some surprising spots