Real-estate listings site, Zumper, has listed the average price of rent for a one-bedroom apartment in San Francisco is $3,410, $400 more for the same apartment in New York City.
And if you were thinking about a two-bedroom in the lovely San Fran, let’s hope you’re willing to pay over $1,000 for the same apartment than you would in New York City.
The most likely reason behind the sharp spike in San Francisco rent prices is because of the influx of Silicon Valley wealth into the area, which is in turn forcing established locals to struggle to afford the increased prices. Silicon Valley is the home of major technology companies like Google, Apple, Intel, Yahoo, Yelp, and the list goes on to seemingly every company you use on a daily basis.
The upwardly mobile have no trouble enjoying the beauty and warmth that San Francisco has to offer, but that’s not the case for people who have lived there before the recent spike in costliness.
Even the toast is now ridiculously expensive as a new trend of expensive (yet decidedly delicious) toast sweeps the city. We are patiently waiting for this trend to make it to the East Coast, specifically Williamsburg. The hipsters must. have.