If you’re a real estate worry-wart who thinks your property is decreasing substantially in value, you can take solace in the fact that rents are going up-up-up! If you’re renting, you may also want to consider the fact that the gap between the cost of owning and cost of renting is narrowing.

Since last spring the median rent for a one-bedroom has jumped from $2500 to $2900. The jump for two-bedrooms has jumped from $3200 to $3600.

To support these numbers, I offer two fun resources:

The first is a nifty site called SFRentStats: Using Craigs List as a resource, this website’s back-end program grinds through rental listings to calculate average rents in San Francisco by neighborhood.

The site slices and dices the data a number of different ways –you can check average costs to rent a room as well as an apartment and look at maps to see which neighborhoods are the most expensive for a tenant (as expected, the City’s tonier neighborhoods on the North side command the highest rents.)

The second is Paragon’s own rental listings.I’m partial to this site because it’s got nice eye candy– lots of pretty pictures and tons of detailed info on each rental. You’ll note that we have a lot more units rented than available right now– a reflection of the rental market shortage.

This entry was posted on Saturday, November 17th, 2007 at 12:00 pm and is filed under Renting in SF, Investors. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.

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