SF beats NY for highest median apt rent

[ESF]

I'm not surprised. There's been a number of reports out over the last couple years saying different versions of this same story. I know they all measure it differently, but yeah, SF is more expensive.

SF residents tend to have much higher transportation expenses than those in NYC as well. It's increasingly unaffordable for many, many people.

[imojoebunny]

That is not a contest I would want to win. My cousin just moved to a one bedroom in SF. It cost as much as my 3,000 square foot brand new house in a very walkable community in ATL with great schools, with another 1,000 square feet of space I could finish, but don't need to.

[v]

I'm surprised it took so long. New York City is huge (300+ square miles), and there are lots of areas that are way cheaper real estate-wise than the expensive boroughs/neighborhoods.

I'm actually really surprised that the average 1br rent in New York City is $2995. I would have guessed that, if you considered all 5 boroughs, it would be way lower than that.

[cheezer]

Sept 17, 2014 17:51:35 GMT -5 RockNVoll said:

v, they looked at medians, not averages, so that might explain some of it.

I miss S.F. but stories like this definitely make me nervous about retiring there. And it's not like the peninsula/South Bay, where we'd likely go, are any cheaper :/

The south bay is absolutely not cheaper. Plus cost of having cars. There's a lot of rent control laws in the city. I wonder if the median price is just new rentals for the year? It seems like no one ever wants to move due to the rent controls.

I'm going to try to come back here later with a very long but interesting article on rent in SF.

[crashgizmo]

Sept 17, 2014 17:31:05 GMT -5 ESF said:

I'm not surprised. There's been a number of reports out over the last couple years saying different versions of this same story. I know they all measure it differently, but yeah, SF is more expensive.

SF residents tend to have much higher transportation expenses than those in NYC as well. It's increasingly unaffordable for many, many people.

I posted in the randoms thread the other day that DH is up for a big promotion. But it's in the Bay Area. It totally freaks me out thinking about living there, even though I love visiting. This thread isn't making it better but its at least giving me food for thought. I don't want to rain on DH's parade because he's SO excited about the promotion possibility, but at the same time I'm like, howTF are we going to live there? Maybe I should put this in the vent thread. 

[ESF]

Sept 17, 2014 19:23:14 GMT -5 crashgizmo said:

Sept 17, 2014 17:31:05 GMT -5 ESF said:

I'm not surprised. There's been a number of reports out over the last couple years saying different versions of this same story. I know they all measure it differently, but yeah, SF is more expensive.

SF residents tend to have much higher transportation expenses than those in NYC as well. It's increasingly unaffordable for many, many people.

I posted in the randoms thread the other day that DH is up for a big promotion. But it's in the Bay Area. It totally freaks me out thinking about living there, even though I love visiting. This thread isn't making it better but its at least giving me food for thought. I don't want to rain on DH's parade because he's SO excited about the promotion possibility, but at the same time I'm like, howTF are we going to live there? Maybe I should put this in the vent thread. 

It is not cheap, but people manage.  It just requires an adjustment of expectations.  You live in smaller places, downgrade your cars, and just budget your spending money differently.  It's an amazing place to live, even taking into account the cost of living here, so I wouldn't rule it out.

Feel free to PM me with questions!

[crashgizmo]

I'm going to make a new post with my (way too "cart before the horse") questions about living.

[pinkdutchtulips]

in forty years rent has gone from $125/month for 1 bdrm apt across the street from Delores Park on the border bt the Mission and the Castro to .... OMG !!! $3k+

that's what my parents paid for their apartment in SF when i was a baby. my mom taught school in Richmond and my dad was going to grad school in Berkeley (PLTS not CAL).

[Deleted]

New York to San Francisco: Hat's off, pal:

nymag.com/news/features/san-francisco-techies-2014-3/

[pinkdutchtulips]

Sept 17, 2014 19:23:14 GMT -5 crashgizmo said:

Sept 17, 2014 17:31:05 GMT -5 ESF said:

I'm not surprised. There's been a number of reports out over the last couple years saying different versions of this same story. I know they all measure it differently, but yeah, SF is more expensive.

SF residents tend to have much higher transportation expenses than those in NYC as well. It's increasingly unaffordable for many, many people.

I posted in the randoms thread the other day that DH is up for a big promotion. But it's in the Bay Area. It totally freaks me out thinking about living there, even though I love visiting. This thread isn't making it better but its at least giving me food for thought. I don't want to rain on DH's parade because he's SO excited about the promotion possibility, but at the same time I'm like, howTF are we going to live there? Maybe I should put this in the vent thread. 

there's more to the Bay Area than SF. i manage to make it on less than 6 figures. Feel free to PM if you have any questions.

[pinkdutchtulips]

Sept 17, 2014 19:41:03 GMT -5 RockNVoll said:

Sept 17, 2014 19:38:09 GMT -5 pinkdutchtulips said:

the there's more to the Bay Area than SF. i manage to make it on less than 6 figures. Feel free to PM if you have any questions.

With a kid, no less.  Impressive.

i live 45-60 mins outside of SF ..... in home after school care rather than a formal center and ONE activity (Girl Scouts).

i have the city handy for when i want it. i'm a mere 10 mins from BART and 40 mins from Embarcadero Center via BART. i can make it from China Basin/SOMA SF to the East Bay (Concord) in 45 mins on a Sunday night via car. the Bay Area is only as expensive as you make it out to be.

[dexteroni]

I read that the recent influx of Silicon Valley people is what pushed it over the top. Our friends who live there can't afford to move within the metro area because market rates have increase so much. That used to only be a NYC problem.

[v]

Sept 17, 2014 19:36:17 GMT -5 @linzercookie said:

New York to San Francisco: Hat's off, pal:

nymag.com/news/features/san-francisco-techies-2014-3/

But why can't we send normcorers away as well?  Those people are the worst too

[cheezer]

Sept 17, 2014 18:51:54 GMT -5 RockNVoll said:

Sept 17, 2014 18:40:57 GMT -5 cheezer said:

The south bay is absolutely not cheaper. Plus cost of having cars. There's a lot of rent control laws in the city. I wonder if the median price is just new rentals for the year? It seems like no one ever wants to move due to the rent controls.

I'm going to try to come back here later with a very long but interesting article on rent in SF.

I don't think there are that many rent-controlled places left.  When I was there they were few and far between.

Maybe not controlled but there's restrictions on how much rent can be raised yearly.  Not sure of the correct terminology.  Most of my neighborhood is like that and people have been in their apartments forever.

[dexteroni]

Sept 17, 2014 20:01:04 GMT -5 cheezer said:

Sept 17, 2014 18:51:54 GMT -5 RockNVoll said:

I don't think there are that many rent-controlled places left.  When I was there they were few and far between.

Maybe not controlled but there's restrictions on how much rent can be raised yearly.  Not sure of the correct terminology.  Most of my neighborhood is like that and people have been in their apartments forever.

I think you're referring to rent stabilization. ETA: Never mind, I was thinking of NYC, not SF.

[irishbride2]

Sept 17, 2014 17:51:35 GMT -5 RockNVoll said:

v, they looked at medians, not averages, so that might explain some of it.

I miss S.F. but stories like this definitely make me nervous about retiring there. And it's not like the peninsula/South Bay, where we'd likely go, are any cheaper :/

Median IS an average. It is just one type of average. A mean is another type of average. 
Sorry, math teacher comment. 

[starlily]

Sept 17, 2014 20:01:04 GMT -5 cheezer said:

Sept 17, 2014 18:51:54 GMT -5 RockNVoll said:

I don't think there are that many rent-controlled places left.  When I was there they were few and far between.

Maybe not controlled but there's restrictions on how much rent can be raised yearly.  Not sure of the correct terminology.  Most of my neighborhood is like that and people have been in their apartments forever.

Most buildings built before 1979 are subject to rent control, which covers a lot of housing in the city.

[dexteroni]

Sept 17, 2014 21:13:01 GMT -5 starlily said:

Sept 17, 2014 20:01:04 GMT -5 cheezer said:

Maybe not controlled but there's restrictions on how much rent can be raised yearly.  Not sure of the correct terminology.  Most of my neighborhood is like that and people have been in their apartments forever.

Most buildings built before 1979 are subject to rent control, which covers a lot of housing in the city.

That's rent stabilization. Rent control is only for buildings built before 1940-something (I forget the exact year).

[starlily]

Sept 17, 2014 23:18:00 GMT -5 dexteroni said:

Sept 17, 2014 21:13:01 GMT -5 starlily said:

Most buildings built before 1979 are subject to rent control, which covers a lot of housing in the city.

That's rent stabilization. Rent control is only for buildings built before 1940-something (I forget the exact year).

It appears that's true for NY and perhaps other places, but not SF. Rent control is the common term used, and 1979 is the only cutoff year that matters.

[dexteroni]

Sept 17, 2014 23:58:22 GMT -5 starlily said:

Sept 17, 2014 23:18:00 GMT -5 dexteroni said:

That's rent stabilization. Rent control is only for buildings built before 1940-something (I forget the exact year).

It appears that's true for NY and perhaps other places, but not SF. Rent control is the common term used, and 1979 is the only cutoff year that matters.

Oh! I thought we were still talking about NYC. Ha. Thanks for clarifying!

[phunluvin82]

Yeah, having only been here a few months, I'm still a bit shell shocked about the COL.

OTOH though, I think that there is an somewhat of an adjustment in salaries for professional jobs to account for it. I know my H wouldn't be making 6 figures anywhere else for what he does.  And I just started a job that has fewer qualifications and responsibilities than my previous job, but pays more than what I used to make (although not by tons).

But I'm sure there are lots of jobs out there for which the pay is still not nearly on par with the housing costs.  It seems like all my coworkers here either have 100 roommates or live an hour outside the city.