Bay Area

San Francisco rent hits new high at $3,690, most expensive in US

SAN FRANCISCO (KRON) - Welcome to the Bay Area -- where you (mostly, your rent) can only go up from here! 

If you thought rent in San Francisco couldn't get any higher -- you were very wrong. 

Apparently San Francisco rent has reached a new peak of $3,690, according to home and apartment rental app Zumper. 

That's also a rise of nearly 9 percent from the same time last year, the survey found, according to CNET. 

Here are some more fun tid bits about San Francisco's skyrocketing rent:

  • SF rent is nearly 30 percent higher than NYC 
  • SF rent is more than double prices in Miami

The survey also found that while rent increased greatly in San Francisco, the median price of one-bedroom apartments everywhere else in the US apparently dropped nearly half a percent during the same time. 

In a nutshell, rent in San Francisco got more expensive while rent across the US got cheaper.

Could this explain the Bay Area exodus?

A growing number of homeowners are moving out of the Bay Area, citing everything from traffic and lack of affordable housing to high taxes and high cost of living. 

If $3,690 seems a bit steep to you, you can always move to the South, where an entire town in the heart of Georgia is up for sale at $1.7 million. 

That town does include several homes. 

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