The good news: A recent study shows that Bay Area rents will soften in 2009 due to the lagging economy. The bad news: You mean besides the lagging economy? Well...
To be a little less vague, there should be more rentals saturating the market due in part to job losses (which in turn lead to loss of apartments), but also because many foreclosed houses have been bought up by investors who then attempt to rent them out. Most of these properties are located in the East Bay and San Jose, where you're likely to find a relatively good deal for a rental. But it looks like the same isn't the case for San Francisco, where the rental market continues to remain "healthy". The bottom line: rent will continue to rise, just not as much as in recent years. Dang. Read the article here.
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I heard about this this morning on the way to work listening to KDFC. I like the idea of more apartments out there to rent because I'm currently looking for a new one but I wish the rent wasn't rising as I can barely afford SJ and certainly can't afford SF.
I've noticed while perusing craigslist that prices for deposits have seemed to decrease as well as rent. I was looking to move to SF from the east bay a couple of months ago and prices were insane. I hope this decrease stays a few months.
We just moved to SJ and I'm not sure if we'll stay in our house longer than the current lease (one year) so this will be nice if we decide to move again.
http://embritadesign.blogspot.com
Yay, I'm hoping rental prices drop. My goal is a SF highrise studio sometime this summer. We sublet last summer, but I would really like a place of my own.
So what's a good deal for a San Francisco apartment? I currently pay $1475 for a decent sized 1 BR in the heart of the city. I'm still hearing that is a good deal.
under $1500 a month for 1BR downtown is generally a good deal, unless by "heart of the City" you mean the Tenderloin.
The key is to find a unit in a building that was built before June 1979 and is not currently a condo. If it satisfies those two conditions, generally, it will be subject to rent control - which means that whatever rent you paid when you first moved can only be increased annually based on the CPI.
For example, I currently have a 1 BR on Nob Hill for well under $1400 a month, entirely b/c of rent control.
has rent doubled in SF since the 90s?
how come hotel rates have stayed so flat...?
This is bogus. i've been perusing craigslist for a few months on and off, and SF rents look just as high now as they were a few months ago.
There are a lot more apartments available in my area and finally some good deals again. I heart my Tendernob location. :)
dkzody - how high is high rise? What area? And what price?