While New York City has held steady at the top of the list for 15 years, San Francisco's housing market tells a different — though also expensive — tale for renters.
According to the study, San Francisco is the 11th-most populous market in the US. Despite not ranking in the top 10 by size, in 2014, the San Francisco metro area shot up to No. 3 on Zillow's ranking of the largest US metro areas where residents spend the most on rent. It has maintained its No. 3 ranking for the past six years.
The area's rising popularity and influx of tech jobs have caused real estate prices to skyrocket. In November 2019, Business Insider's Aria Bendix that over the past decade, the tech industry in San Francisco grew by 57%. From 2007 to 2017, San Francisco's average rent increased by 25%.
It's what we like to call, the trickle up effect
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