The Brief
- Return-to-office mandates and an AI hiring surge are driving the increase in rental prices, according to real estate company Zumper.
- San Francisco saw the biggest year-over-year growth in rental prices – but the city is still not the most expensive in the U.S.
- Five San Francisco neighborhoods are leading the price hike trend.
SAN FRANCISCO – It’s no surprise rent in San Francisco is expensive. What may surprise San Francisco residents is just how steep of a price increase rentals have seen in the last year.
New data from Zumper shows rental prices in San Francisco have surged by 13% since July 2024, nearly reaching the pre-pandemic average rate of $3,500.
An average one-bedroom apartment in San Francisco costs $3,400 per month, the highest rate since April 2020, the real estate company reports. …