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Huge Jump in San Francisco Rents for 2014

Overall, San Francisco rents increased 13.5% in 2014. But when you break it down by neighborhood, it’s clear that some neighborhoods are driving that increase more than others. For example:

 

  • Mission was up 20% ($3,240/mo. for a one-bedroom apartment)
  • Noe Valley was up 29.2% (the largest rental increase in 2014 by neighborhood)
  • NoPa was up 15%
  • Outer Sunset was up 16% ($2,100 for a one-bedroom)

On the other hand, some north side neighborhoods have peaked and are experiencing declining rents. For example:

  • Nob Hill was down 6.3%
  • Russian Hill was down 4.3%
  • Marina and Pacific Heights were both down 1.4%

For reference, if you purchased a property in the Mission for $800,000 with a 20% down payment and a mortgage of $640,000 at 4%, you’d pay ~$3100/month on your mortgage. This does not reflect your after tax MI deduction.

 

$3240 for rent vs. $3100 to own?

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