San Francisco's Dogpatch is most expensive neighborhood for renters
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Overall rent prices in San Francisco are still down from the pandemic, but rents are up in neighborhoods like the Dogpatch, Outer Sunset and others, per a new report.
Why it matters: While downtown San Francisco is still struggling, albeit with signs of life, some neighborhoods have become more attractive as many people shifted to remote work.
The big picture: The median cost to rent a one-bedroom apartment in San Francisco is $3,040, 15% lower than it was in February 2020, but flat from one year ago, according to new data from home rental platform Zumper.
Zoom in: The Dogpatch has become the most expensive neighborhood for renters in the city, with a median one-bedroom rent of $3,790 per month in July, a 7.7% increase year over year, according to Zumper.
- Yes, but: Rent has increased the most in Cow Hollow, jumping 14.8% year over year to $3,260 per month.
- The neighborhood that's taken the worst hit, unsurprisingly, is SoMa, home to a large number of tech startups. Rent prices were down 13.8% year over year.
Between the lines: A recent analysis from Redfin showed 100% of properties in San Francisco are cheaper to rent than buy.