It's Official: S.F.'s '12 Rent Hike Makes Nation's Top 10 List
There’s no way around it, San Francisco is becoming an increasingly costly city to live in. While it’s long been word on the street or known through personal experience, now there’s some actual reported data to back up the claim that settling within the City by the Bay takes a hefty chunk of change (or two!). According to CNN Money, both San Francisco and Oakland are two of the top ten U.S. cities experiencing extra-drastic rent hikes in 2012.
The shocker? Oakland’s rate increase more than doubles S.F.’s...by a skyrocketing 11.6%! The East Bay’s jolt in rent prices is predicted to be a consequence of folks getting priced out of S.F. due to the tech boom. S.F. saw a 5.8% year-over-year rise, which translates to a median monthly rent of $2.647.25. Ouch! Tell us, are you surprised S.F. made it on the list? Or is this an obvious result when Zuckerberg and company start house hunting? Weigh in below! (CNN Money)
Photo: Via CNN Money