Angelika San Francisco is known to be an expensive place, especially when it comes to buying houses and renting. This is nothing new for our long-time newsletter readers, but lately, the rental market has been going through the roof, and we are approaching New York City Manhattan levels. According to the... The title"Mitspiegel unserer Stadtteilzeitung Noe Valley Voice" translates to"Reflection of our Neighborhood Newspaper Noe Valley Voice" inEnglish. The rent is now between $2100 and $6000, and the average rent in January of this year was $3525 per month. In January 2011, the average monthly price in our neighborhood was still $2745.
Admittedly, Noe Valley is a sought-after residential area, and the $6,000 apartment is certainly a luxury property, but apartments currently going for $3,000 a month in Noe Valley are by no means super-equipped or large; often the tenant has to pay extra for the garage, or there is no garage at all. However, rents are also skyrocketing in other neighborhoods in San Francisco. The average price for a three-bedroom apartment citywide is currently almost $3,000. Many are already talking about a new tech boom. Not only are new start-up companies being founded, but companies like Facebook, LinkedIn, and Yelp are also going public, potentially creating a few thousand millionaires who then enter the housing and rental market without having to worry about the price.
Other well-established companies like Google and Apple also pay their employees nice salaries, and they don't bat an eye when they have to shell out $3500 for an apartment. Meanwhile, unpleasant practices are starting again, where tenants voluntarily pay higher rents just to secure a coveted apartment. The market is now so tight that there are only about 3% of apartments available in the city. Many landlords are also converting their houses or apartments into vacation rentals, which they rent out on a weekly basis, promising them higher income. We are so glad that we live in an apartment with rent control. Rundbrief 08/2000 .