Rent, other than the amenities of the dwelling itself, affords access to a location, which is likely far more valuable in the minds of those making the decision

Rent, other than the amenities of the dwelling itself, affords access to a location, which is likely far more valuable in the minds of those making the decision than dining out. In addition to the issues with high cost of living that affect other big cities like New York and DC, the restaurant market in the wider Bay is somewhat distorted due to so many firms of high earners offering food on site. This shifts sit-down restaurants further towards the discretionary, incidental end of spending and away from daily needs. Lunch hours typically have a lower proportion of high-income customers than dinner hours, but this decreases their share further. A common solution is to raise dinner prices to be a higher multiplier above lunch prices, but that only makes sense if the pricing won't drive away business to competitors. For most of these restaurants, attrition and consolidation will continue to happen, while a few will try to move further and further upmarket and focus on branding and an intangible experience, to remove themselves from pricing pressure.