The city's rental market just crossed a staggering new threshold for the first time this month: the median one-bedroom apartment now costs $4,000 a month — a 3.9% jump.
Why it matters: While rents nationally have mostly flattened, San Francisco is moving sharply in the opposite direction and leading the country in rent spikes, Zumper's May national rent report shows.
The big picture: The city now has the fastest-rising rents in the U.S., with both one- and two-bedroom prices up more than 21% from a year ago — the steepest of any major U.S. market.
Two-bedroom rent costs climbed to $5,500.
😬 The bottom line: Now may not be the ideal time to discover you've outgrown your current apartment.
