found that for the month of June, the median rent for a one-bedroom apartment in San Francisco fell to $3,280 a month, an 11.8% decline year over year, which marks the largest year-over-year drop Zumper has ever recorded for the city and the largest local drop in the nation. In addition, the median rent for a two-bedroom apartment in the city saw a year-over-year decline of 9.6%.
Zumper also found that other tech hubs in California, including Mountain View and Palo Alto, have seen big rent dips,. In Mountain View, the median rent for a one-bedroom apartment declined 15.1% and the median rent for a one-bedroom in Palo Alto dropped 11.1%. While San Francisco saw the biggest year-over-year decrease, it is still the most expensive rental market in the US, with the typical one-bedroom apartment costing $3,280, according to Zumper. However, the city, along with the other 10 most expensive markets in the country, is experiencing what Zumper refers to as the "Brooklyn effect" — a shift in demand from traditionally expensive markets to less expensive markets.
The report said that while Boston and San Francisco both saw price decreases, two less populous and less expensive markets, Providence and Sacramento, both saw prices increase about 5%. The 'Brooklyn effect' described by Zumper points to a trend that has been accelerated by the coronavirus pandemic
Done w that corrupt city. Dirty and Poop everywhere LeftistsAreAnarchists ByeFelicia
United States United States Latest News, United States United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: BusinessInsider - 🏆 729. / 51 Read more »
Source: BusinessInsider - 🏆 729. / 51 Read more »
Source: BusinessInsider - 🏆 729. / 51 Read more »
Source: BusinessInsider - 🏆 729. / 51 Read more »