Real Estate Rental in San Francisco
San Francisco is the second most densely city in US, after New York, and it ranks 13 on the list with the cities with the biggest population. It is also one of the biggest tourist destinations in the world and many people want to visit it for the famous landmarks such as the Golden Gate Bridge and Chinatown. There are many international and Dot-Com companies that can affect the real estate rentals in the region due to massive hiring and different opportunities offered; Craiglist.com and Twitter as well as other bog names have their head offices in San Francisco.
The real estate rentals in San Francisco are becoming quite expensive and as local startup companies such as Twitter and Zynga are hiring in great numbers, prices raise out of control. It is actually pretty hard to find an apartment and even if you do, you will have to fight the other four which are interested; having 5 applications for every listing has made the prices go up with 10-20% in comparison to prices at the beginning of this year.
A studio will cost you between $1,700 and $2,500 while a cheap two bedroom apartment is around $3,400 with prices going as up as $7,500 depending on the location and the level of comfort offered. Despite these high prices, people are still coming to San Francisco and most of them follow the trend of starting their own little business. If last year people were happy to have a job, now everybody seems to want to start something online and San Francisco is the best place to do it.
Experts say that this won’t change soon and they predict that the big tech companies will hire another wave of people towards the end of 2016. It is interesting to see how these companies can affect the local real estate rental market; people are free to move around the 50 states and in these times, a good job offer seems to attract a lot of population, people which are ready to move for a new workplace.
In conclusion, the real estate rental market in San Francisco is a bit unusual compared to other big cities in the US. Landlords have the advantage and they can afford to increase their prices without the risk of having an empty apartment. People have to look hard for a good deal and they have to make up their mind very fast so that they don’t loose it from in front of them.