The median rental price of a one-bedroom apartment in San Francisco inched up 0.3 percent month-over-month in January to $3,500, according to Zumper. After last month’s report was released showing a two-month pattern of falling prices, hopeful articles were written about San Francisco eventually losing its not-so-coveted title of the most expensive rental market in the nation. But with New York median price dropping 1.8 percent last month, the gap between the two leading cities widened.
San Jose flipped places with Oakland to become the fourth most expensive rental market in the US. The South Bay city’s median one-bedroom rental price of $2,210 in January topped Oakland by only $10.
As more and more San Franciscans look for less expenive pastures, some sister cities to consider would be Portland ($1,360 one-bedroom median), Austin ($1,140), or even the nearby state capitol of Sacramento, California ($950).