4 ms·

A good start, let's hope it continues. Rents are still roughly double what they were 15 years ago, when decent studios in central neighborhoods went for under $

A good start, let's hope it continues. Rents are still roughly double what they were 15 years ago, when decent studios in central neighborhoods went for under $1000/mo.

est31 6y ago
Yeah it's better for everyone. The people who like the city life can enjoy it at much cheaper cost, the people who don't like it get to have good jobs that would otherwise have required relocation.
Voloskaya 6y ago
US inflation over that period was 35%. So that means rent increased by ~50% in 15 years, this is way less than I imagined for SF.
- jeffbee 6y ago
  That cherry-picks the top tick from the last housing price bubble. Compared to either 10 or 20 years ago, housing prices have more than doubled. https://fred.stlouisfed.org/series/SFXRSA https://fred.stlouisfed.org/series/SFXRSA
  - deleted 6y ago
    [deleted]
  - bcrosby95 6y ago
    You're comparing housing prices to rents. In that bubble they disconnected. During the bubble you could rent houses and apartments for around half the monthly mortgage. My friends and I were renting a million dollar house for 2200/month.
  - JMTQp8lwXL 6y ago
    To be fair, we could say you 'cherry picked' by selecting the 20 year mark. It's just as cherry picked as picking the peak: it's a discrete moment in time, compared to the present, in either case.
bufferoverflow 6y ago
Not going to happen until the city allows to build much more housing.
packetlost 6y ago
I live in freaking Madison, WI and you can't find a studio for under $1000, there's no way you're going to find that in SF.
- alextheparrot 6y ago
  Is that just downtown by the capital where the high rise apartments are? Or has the market shifted that severely since I graduated school in 2016?
  - milkytron 6y ago
    Hm, it appears it hasn't changed that drastically since 2016 according to rent jungle: https://www.rentjungle.com/average-rent-in-madison-rent-trends/ https://www.rentjungle.com/average-rent-in-madison-rent-tren...
    - alextheparrot 6y ago
      I lived in a sub-500 apartment with roommates so I was probably just wholly unaware - thinking back more deeply one friend lived in a studio the size of a closet that was just shy of 900.
  - packetlost 6y ago
    In some of the 'worse' parts of town rent dips into the upper $700-800s or if you get very far from downtown into the suburbs in older buildings. The eyeball-average price for suburbs/outer areas for a studio is $900-1000. The median appears to be in the $1100-1500 range overall [0]. [0]: https://www.rentcafe.com/average-rent-market-trends/us/wi/madison/ https://www.rentcafe.com/average-rent-market-trends/us/wi/ma...
- onecommentman 6y ago
  Wonder if it is because it is a University and Government town. Stable mostly higher-paying employment means more people in a position to buy their home, so less land for apartments. Also the captive market of students that had continued to grow puts upward pressure on prices for studios. Shrug.

A good start, let's hope it continues. Rents are still roughly double what they were 15 years ago, when decent studios in central neighborhoods went for under $1000/mo.

est31 6y ago

Yeah it's better for everyone. The people who like the city life can enjoy it at much cheaper cost, the people who don't like it get to have good jobs that would otherwise have required relocation.

Voloskaya 6y ago

US inflation over that period was 35%. So that means rent increased by ~50% in 15 years, this is way less than I imagined for SF.

jeffbee 6y ago
That cherry-picks the top tick from the last housing price bubble. Compared to either 10 or 20 years ago, housing prices have more than doubled. https://fred.stlouisfed.org/series/SFXRSA https://fred.stlouisfed.org/series/SFXRSA
- deleted 6y ago
  [deleted]
- bcrosby95 6y ago
  You're comparing housing prices to rents. In that bubble they disconnected. During the bubble you could rent houses and apartments for around half the monthly mortgage. My friends and I were renting a million dollar house for 2200/month.
- JMTQp8lwXL 6y ago
  To be fair, we could say you 'cherry picked' by selecting the 20 year mark. It's just as cherry picked as picking the peak: it's a discrete moment in time, compared to the present, in either case.

bufferoverflow 6y ago

Not going to happen until the city allows to build much more housing.

packetlost 6y ago

I live in freaking Madison, WI and you can't find a studio for under $1000, there's no way you're going to find that in SF.

alextheparrot 6y ago
Is that just downtown by the capital where the high rise apartments are? Or has the market shifted that severely since I graduated school in 2016?
- milkytron 6y ago
  Hm, it appears it hasn't changed that drastically since 2016 according to rent jungle: https://www.rentjungle.com/average-rent-in-madison-rent-trends/ https://www.rentjungle.com/average-rent-in-madison-rent-tren...
  - alextheparrot 6y ago
    I lived in a sub-500 apartment with roommates so I was probably just wholly unaware - thinking back more deeply one friend lived in a studio the size of a closet that was just shy of 900.
- packetlost 6y ago
  In some of the 'worse' parts of town rent dips into the upper $700-800s or if you get very far from downtown into the suburbs in older buildings. The eyeball-average price for suburbs/outer areas for a studio is $900-1000. The median appears to be in the $1100-1500 range overall [0]. [0]: https://www.rentcafe.com/average-rent-market-trends/us/wi/madison/ https://www.rentcafe.com/average-rent-market-trends/us/wi/ma...
onecommentman 6y ago
Wonder if it is because it is a University and Government town. Stable mostly higher-paying employment means more people in a position to buy their home, so less land for apartments. Also the captive market of students that had continued to grow puts upward pressure on prices for studios. Shrug.