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Vacancy rates in San Francisco are very low compared to the rest of the state and the country. Rent control in SF is problematic not because it leads to vacanci

Vacancy rates in San Francisco are very low compared to the rest of the state and the country. Rent control in SF is problematic not because it leads to vacancies but because the allowable increase is far too low, way below inflation.

tmh79 7y ago
yea, vacancy rates in SF are 2 - 3%, way way below the national median, and way below the california median as well
- fountainofage 7y ago
  What units go into the vacancy rate? The comment seems to be saying these units aren't even listed as available. Would they still show up in the vacancy calculation? How do they get in there?
refurb 7y ago
Vacancy rates are empty units that are available as a percent of all units available for rent. It doesn’t typically include units that aren’t available for rent. The estimate is there are 100,000 empty homes in the SF area.[1] I’ve seen an estimate of 20,000 for SF proper. This [2] report to SF Planning states the number of empty units has doubled over time. [1]https://www.sfgate.com/realestate/article/An-estimated-100-000-homes-are-sitting-empty-in-13692007.php https://www.sfgate.com/realestate/article/An-estimated-100-0... [2]http://ternercenter.berkeley.edu/uploads/CR_Final_2.3.19.pdf http://ternercenter.berkeley.edu/uploads/CR_Final_2.3.19.pdf
- pcwalton 7y ago
  It's low no matter what measure you look at.
  - refurb 7y ago
    You'd also have to consider all the people that would be happy to rent out their in-law but decide not to because of rent control. Not saying it would solve the housing crisis, but adding another 20,000+ units onto the market would certainly help.
- dragonwriter 7y ago
  > I’ve seen an estimate of 20,000 for SF proper. Even if that was added to the vacancy rate, that would still leave SF with around the national average (~7%) vacancy rate, and that's without counting the off-the-market housing anywhere else in the average (and not double counting actual on-the-market vacancies everywhere else, either.) Anyway you cut it, SF has a low vacancy rate/rate of empty homes.
  - refurb 7y ago
    Yeah, but 2% to 7% vacancy rate can mean the difference between rents that are $2000 per month and rents that are $4000 per month.
    - ryan_lane 7y ago
      SF added 2,000 jobs in 2019 alone. If those were put on the market even in a huge lump sum, there's no way it would cut rent prices in half. Maybe it would keep the prices from rising for a year or so?

tmh79 7y ago

yea, vacancy rates in SF are 2 - 3%, way way below the national median, and way below the california median as well

fountainofage 7y ago
What units go into the vacancy rate? The comment seems to be saying these units aren't even listed as available. Would they still show up in the vacancy calculation? How do they get in there?

refurb 7y ago

Vacancy rates are empty units that are available as a percent of all units available for rent. It doesn’t typically include units that aren’t available for rent. The estimate is there are 100,000 empty homes in the SF area.[1] I’ve seen an estimate of 20,000 for SF proper. This [2] report to SF Planning states the number of empty units has doubled over time. [1]https://www.sfgate.com/realestate/article/An-estimated-100-000-homes-are-sitting-empty-in-13692007.php https://www.sfgate.com/realestate/article/An-estimated-100-0... [2]http://ternercenter.berkeley.edu/uploads/CR_Final_2.3.19.pdf http://ternercenter.berkeley.edu/uploads/CR_Final_2.3.19.pdf

pcwalton 7y ago
It's low no matter what measure you look at.
- refurb 7y ago
  You'd also have to consider all the people that would be happy to rent out their in-law but decide not to because of rent control. Not saying it would solve the housing crisis, but adding another 20,000+ units onto the market would certainly help.
dragonwriter 7y ago
> I’ve seen an estimate of 20,000 for SF proper. Even if that was added to the vacancy rate, that would still leave SF with around the national average (~7%) vacancy rate, and that's without counting the off-the-market housing anywhere else in the average (and not double counting actual on-the-market vacancies everywhere else, either.) Anyway you cut it, SF has a low vacancy rate/rate of empty homes.
- refurb 7y ago
  Yeah, but 2% to 7% vacancy rate can mean the difference between rents that are $2000 per month and rents that are $4000 per month.
  - ryan_lane 7y ago
    SF added 2,000 jobs in 2019 alone. If those were put on the market even in a huge lump sum, there's no way it would cut rent prices in half. Maybe it would keep the prices from rising for a year or so?