By Don Macritchie : potreroview – excerpt
San Francisco rents have dropped faster than any other major city in the country. According to Zumper’s October rent report, which analyzed data from more than one million listings nationwide, rents in the City have declined by 20 percent since last year. Zumper, which vends apartments and houses online, found that an average South-of-Market studio could be leased for $2,056, a one-bedroom, $2,850 and a two-bedroom, $3,650. Prices were somewhat higher in Potrero Hill, where studios averaged $2,345, one-bedroom, $2,907 and two-bedrooms, $3,750. Among the most expensive two-bedroom rents were in Mission Bay, at $4,372…
“One of the biggest outstanding questions is the degree to which COVID will shift preferences away from cities,” Apartment List research associate Rob Warnock wrote in “An Urban Exodus? Not Yet,” posted on the Apartment List’s website in July. Based on an analysis of Apartment List data Warnock found “subtle regional shifts, but no overwhelming evidence of a large-scale urban exodus” in large cities in general, and in San Francisco specifically…(more)