The median rent for a one-bedroom apartment in New York City is now $2,810, and in San Francisco it is $2,800.The setting sun reflects off One World Trade Center and the skyline of lower Manhattan in New York City as the moon rises on March 7, 2020 as seen from Jersey City, New Jersey.New York City now holds the top slot as the most expensive apartment rental market in the nation.
Just two years ago, the median one-bedroom rent in San Francisco was more than $800 above New York's. The median rent for a one-bedroom apartment in New York City is now $2,810, compared with $2,800 in San Francisco. San Francisco and New York were hit hardest by the pandemic, as offices shut down and residents fled to either smaller cities or the suburbs. In New York especially, there was a major outflow to the Sun Belt.
That has pushed rents up nationally. One-bedroom apartment rents are up 9% from May 2020; two-bedrooms are up 11%, according to Zumper. For single-family rental homes, the latest read from Corelogic in June showed rents up 7.5% from a year ago, year over year, which is more than five times the annual increase in June 2020.
Who is dumb enough to pay 3000+ for rent, just to say you live in New York. You could own a 3000 square foot house in most places in this country.
Now? What about the last 100years?
Well, that Covid permanent exodus the media was touting everyday sure didn’t last long.
You don't say
SF HOAs are gonna be pissed.
Need utilities working like clockworks.
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