There are a lot of things San Francisco dwellers don't agree on, but one we do is the outrageous price of Bay Area apartments — especially in recent years. If simply scanning Craigslist wasn't depressing enough, now rental website Lovely has confirmed that S.F.'s median rental price isn't just high — it's way higher than what people are paying in New York City. And, that goes for apartments of ALL sizes. Who would have guessed that we had the Big Apple beat?
The report covers data from the third quarter of 2014 and shows that the ballpark number in San Francisco is about $3,488 for a place, which is roughly $688 higher than what people are currently shelling out New York. What's more, out of Lovely's list of top 10 expensive U.S. cities (with Palo Alto sitting pretty at number one), seven of them are in the Bay.
Unfortunately, the news gets even worse: It seems that the biggest rise is happening in the East Bay, which experienced a 20% increase in median rent in the past year. So much for being the cheaper option.
If you're in the mood to read all of the jarring stats, head here. Time to start packing?
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