San Francisco’s median two-bedroom rent has reached $6,340 a month, the highest in the country and nearly $900 above New York City’s, according to real estate platform Zumper. The figure is up 26.8% from a year ago.
For one-bedroom apartments, San Francisco’s median hit a record $4,400 in September, up 25.4% over the year. That remains $180 below New York City’s $4,580 median. Zumper linked part of the surge in demand to artificial-intelligence hiring in a city with limited housing supply.
National rents changed far less over the same period: the one-bedroom median rose 0.1% to $1,518, while the two-bedroom median rose 0.5% to $1,903. San Francisco Mayor Daniel Lurie declared a rent emergency in September and proposed a 10% cap on rent increases and roughly $55 million for legal help aimed at keeping tenants in their homes.
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