We got lucky. 1.5 years ago, we rented a house in SF for $2700, and the rent was frozen at $2700 for up to 3 years. A friend of ours moved into our neighborhood and is paying $3300/month for a comparable place.
I'm not sure what we're going to do once the lease is up in 1.5 years, hopefully the rent prices will stabilize. I know my friend in SOMA who bought his 2 br condo for $580k can now sell it for probably $800k, and charge at least $4k/month for it. It's absolutely crazy how much rents have gone up, it's as bad as during the dotcom boom, where my rent went up $500/month after the 1st year lease. (I moved out to a worse neighborhood instead of renewing the lease).
Comments
We got lucky. 1.5 years ago, we rented a house in SF for $2700, and the rent was frozen at $2700 for up to 3 years. A friend of ours moved into our neighborhood and is paying $3300/month for a comparable place.
I'm not sure what we're going to do once the lease is up in 1.5 years, hopefully the rent prices will stabilize. I know my friend in SOMA who bought his 2 br condo for $580k can now sell it for probably $800k, and charge at least $4k/month for it. It's absolutely crazy how much rents have gone up, it's as bad as during the dotcom boom, where my rent went up $500/month after the 1st year lease. (I moved out to a worse neighborhood instead of renewing the lease).