Renting an apartment in San Francisco can be a budget breaker for most Americans. It’s no secret. The Bay Area is a great place to live, but it comes with a price. A recent study shows the median rent in San Francisco is $4,225 a month. That’s a hefty price to pay for city-living, but people love San Francisco and are willing to pay the price. Trying to find a place to live in the city is the main challenge. There may be a lot of high-paid tech workers in the area, but even those well-off urban lovers are looking elsewhere to live.
Cnet broke the story, saying the people in Oakland, Berkeley, Emeryville and San Jose are also going through renter’s shock. Prices in those areas are up anywhere from 14 percent to 30 percent. It seems the water reduction plan hasn’t run people away from California. Off course the water supply in Northern California is in better shape than in So-Cal.
The question most Bay Area lovers are asking is when does it end? When do rents stabilize? The answer is when people realize that paying almost $60,000 a year for a small apartment is the definition of insanity.