San Francisco rent crisis hits staggering new highs as median rent now nearly $1k more than NYC
San Francisco renters are getting squeezed harder than ever — and the city’s latest apartment prices are starting to look downright outrageous.The median rent for a one-bedroom apartment in the city hit a record $4,400 a month in September, according to a new report from real estate site Zumper.That’s a staggering 25.4% jump from a year ago, putting San Francisco just $180 behind New York City, where the median one-bedroom costs $4,580.But renters don’t have to look far to find listings that make the $4,400 median look almost like a bargain.Last month, The California Post profiled a San Francisco one-bedroom asking a jaw-dropping $5,495 a month, sparking outrage from renters who questioned how such a tiny apartment could command such a massive price.And the latest numbers show that listing was hardly an isolated case.California Post News: Facebook, Instagram, TikTok, X, YouTube, WhatsApp, LinkedInCalifornia Post Sports Facebook, Instagram, TikTok, YouTube, XCalifornia Post Opinion California Post Newsletters: Sign up here!California Post App: Download here!Home delivery: Sign up here!Page Six Hollywood: Sign up here!The median price for a two-bedroom apartment in San Francisco has now climbed to $6,340 a month — the highest in the country and nearly $900 more than the median two-bedroom in New York.Two-bedroom rents have jumped 26.8% over the past year, with the median price blowing past $6,000 in July.The surge is being fueled in part by a booming artificial-intelligence sector, according to Zumper, which said AI hiring is creating a wave of new demand in a city where housing supply remains tight.The rent spike is also far outpacing much of the rest of the Bay Area.In San Jose, the median one-bedroom costs $2,890, while Oakland renters pay a median $2,100 for a one-bedroom.Those prices are also up over the past year, but nowhere near San Francisco’s 25.4% increase according to CBS.
Nationally, the median one-bedroom rent rose just 0.1% over the past y...