SF Rental Prices Dropping Due To Decreased Demand During Pandemic

[@inquirer1016]

Rent is still way too high.

[@gurujr]

Rent rates don't have to go back to 1970s rate but the rates need to drop for the twenty years. This city needs an inflation shakeout of epic proportions in the worst way.

[@lepetitchat123]

Never low enough

[@anthonyf8937]

Tech companies have stated that their workers can work remotely. Therefore, some are moving away from their over price rentals.

[@kansasthunderman1]

Or their workers will be hired in India and telecommute from 1/2 way around the world.

[@DewTime]

Exactly, my wife and I fit the bill perfectly. We moved out to Tucson Arizona with our Bay Area salaries

[@GSM92]

@@DewTime take me out to eat dawg

[@SandStormXII]

Makes sense

[@eduardoe4200]

True to that . Even my friend who lived in San Jose for years now wants to come back to Stockton . Lol

[@user-ti2xi9bd4u]

About time for the bubble to burst

[@koston777]

People are moving out because SF is full of crap. Literally.

[@eduardoe4200]

I agree. It’s a garbage city and living next to the ocean is not worth it to me unless your a fish.

[@joegardner5386]

B T SF has a Poop Patrol 💩

[@ragnar1796]

SF has turned into a complete hell hole. Ppl don’t want to live in cities anymore. Leave the city!!!!!

[@TruthxAR]

@@charles-ml1ru Good ol cesspool that is NYC. More filfth, miserable locals, population density, neighborhood disparity, tolls, etc

[@SandStormXII]

Lol

[@coachfuzz524]

What’s better Sacramento? LOL

[@kimberlyjohnson7961]

Working from home. No need to live in the big city.

[@marinearenaswimmingpools5320]

did you mean to say "big shity".?

[@TotallyLA]

It's good to hear it's finally a renter's market, but the rents still need to go down a LOT there to be considered affordable.

[@jmehd]

Oh nice it’ll be 4,000 for a studio instead of $5,000

[@themostsecretscience6409]

They are throwing around percentages but not solid numbers. A studio in a bad area can rent for $1900 a month in SF. If you want more beds then add more thousands and that's not a luxury place either. Go to any rental website and look at those high rent and tell me of a 7% drop is enough.

[@The_Truth-]

Keep breaking those leases and move out of there believe me original San Franciscans like myself will be happy!

[@The_Truth-]

@Fionabuster D. The South

[@The_Truth-]

@Fionabuster D. So you are a first-generation or second?

[@The_Truth-]

@Fionabuster D. Oh ok yea my family has here before bart even existed.

[@MsErin-du5eg]

@Fionabuster D. I was born in California and my right wing hometown is now a leftist outsider-filled garbage pit. I'm hoping all of the trash leaves California for good.

[@MsErin-du5eg]

@Fionabuster D. I feel exactly the same. What you said just resonates so deeply. I'm not from your era, but I'm sure that it was even better back then. All of my family is from California too.

[@braddahyosh09]

Some people can’t move far when working remotely because some companies are adjusting pay based on state, and some even going as far as zip code.

[@lovegenderless]

Anybody stupid enough to pay high-rent like that has absolutely no place in this world to complain about not having money

[@Striker50_]

You do realize it's not uncommon to have 200k salaries right?

[@cable30]

People are just moving out of area or just moving out of state cause cost of lving so hi around the state.

[@kimberlyjohnson7961]

Working from home No need to live in the big city

[@shaecloud4403]

@Perry Weeks hmmmmmm, you sure about that?

[@cable30]

@The Perfect 2020 Vision Yea, since for all u learn then have to pay a fortune just to live in cali now. i lived here most of my life except for moving around any for any reason, but came back cause fam here. later plan to move out of state cause can guess it not gonna get any cheaper if trafic keeps moving into state at anytime. so many have moved out of cali compared to into cali over past years. sen videos of in the past. they say u-haul has had more trucks leave state then come into state anytime.

[@cable30]

@The Perfect 2020 Vision I think that why i see this state like a kingdom of kngs and queens cause they take so much and leave us as peasants try survive. so only way to do so is by leaving cali as we save any way possible.

[@taoist32]

tyrone b You’re not local. No Californian calls it Cali.

[@JerichoMile4]

Kenny Choi is a quality news reporter❗👍

[@marinearenaswimmingpools5320]

who knew this day would come to pass..

[@rmahimer]

It doesn't matter its still expensive

[@shortyshort5290]

Maybe have something to do with all the 💩?

[@MainMite06]

The shit here is the landlords!

[@shortyshort5290]

MainMite06 Building cost is too high and demand was high equals high prices

[@lbaker3602001]

Big price drop from $4900 to $4895 WOWIE !! A whole $5/ month the landlords are going broke.

[@djack915]

I'm waaaaay out the area in NYC and rentals here are going down 2 !! In Manhattan especially, free months, no deposits, all kind of goodies but ppl working from home don't want the crowds is gr8 for us natives!

[@coldcatz]

The Price “Would have gone”...does not mean that’s truly what is worth paying or just worth itself. It’s insane that the price goes up because some individuals can effort inadequate prices without caring. Not everyone makes 20k per month or has his “partner” there to pitch in. SF rental prices are ridiculous that’s on those individuals Why don’t techies go to Vegas to work remotely. Taxes are even better. And land is cheap

[@MsErin-du5eg]

Because tech companies reduce pay when they leave the state.

[@thomasmulhall4873]

People are leaving liberal cities. Crime, high taxes, lack of law enforcement, and high prices are driving working people away.

[@evanm9026]

There is no lack of law enforcement. Just not the enforcement that protect the good people

[@bluenightsky]

Doesn't have anything to do with liberal. Oakland's rent is increasing.

[@wonderlandgirlable]

This will happen all over a lot have lost jobs their homes .so expect this all over calif..

[@georgehale4491]

Wow - not much of a reduction

[@THMason1]

And it should be a moratorium on not to raise rents after cv19. To regular amounts until 3 years past

[@ginahasa6312]

With all the homeless and crimes. I'm surprised people still wants to live in SF. Not to mention how crowded and you might just get covid because of how much people lives in a small city.

[@ginahasa6312]

@Vante yeah.. okay.. "i'm sorry" because junkies are not homeless. They actually own properties and have a day job. But the only reason there are so many break ins is because these junkies don't like to sell their own stuff, so instead they break in other people's car and homes. You're so smart.... and 2. This is not Fox news, it's KPIX 5. NOT "KTVU FOX 2"

[@bluenightsky]

Been here over 8 years. Yes, there's some crime, but it's not as bad as you might think. Pretty low stats compared to other large cities.

[@taogarrett]

This is why I left, My mortgage is less then a $1000 in a good city I can just fly back and visit the Bay Area.

[@PikachuTDP]

Still expensive live in sf

[@NAT-turners-Revenge]

Go get it people! Studio apt down 2% 😅

[@damn671]

I just moved to my 1 bedroom apartment in San Jose. $3,200 a month. My old apartment was $4,000 in Cupertino. They just got it rented for $4,200....

[@MissJ000]

🤦‍♀️ 3200 for a 1 bdrm? Damn

[@sab0024]

Cupertino is expensive. I wouldn’t want to live there at all

[@daveheel]

Bet he makes a lot of money but not for sf bay standards.

[@lauraz2896]

You should have waited a month or so. There are lots of vacancies around and many are offering specials. It also sounds like you selected a brand new complex.

[@raphael52]

Good. That area has been overpriced for years. Dive baby dive. Greedy a... Property owners.

[@anthonysolis4163]

So what's gonna happen when people start moving back because of the "lower" rent? Price hikes again?

[@iMadrid11]

Yes. Supply & Demand. People prefer to live near their place of work. People who work from home can live anywhere where housing prices are cheap. As long as they have fast reliable internet.

[@isky6841]

Where I'm from 750 a month 3 bedroom 2 bath with free water and wifi.

[@hunter21331]

Thanks to Tech company

[@thee_morpheus]

$3280 for a 1 bed, what a deal!

[@TalluTube]

Clean up the city - crumbling roads, full of trash, ppl smoking crack on the street - SF used to be a beautiful city. So sad to see its condition now.

[@TheCosmic64]

landlords and owners not losing anything ....they all made there money long ago ....it was pretty much just keep going up aslong as people pay ....

[@FriendofDorothy]

Young people are still mesmerized by the "glamour", the "great paying jobs", and the romantic but mostly nostalgic allure of the big cities. It's hard to admit that the magic that drew so many of us to these cites in the '70s., '80s,' and 90s is mostly gone. Yes, they still try to beckon with bright lights and an ever weaker party vibe, but it's not just this pandemic that killed it. The wild and free spirit of S.F. began diminishing in the early '80s and most of what made the city so cool, so "progressive", and so much fun began to end then as well. Once upon a time NYC, SF, and L.A. were magnets to young people with dreams. Now most young people can't afford them and they're human survival tests unless one is rolling in the green. Our legendary cities are now like desperately preening urban Norma Desmonds in "Sunset Boulevard", their high flying glory days are gone. They have changed from "Funky Town" to "Cities in Dust". CV was the last nail in the coffin but by no means the first. Sorry, kids; you missed the party. It started when the Vietnam War ended and began to end in 1980. Most of you love the spirit and music of the '80s but there were tragic aspects to that decade as well, including its own deadly epidemic that was on a smaller scale but far more savage than CV in its outcome. It took some deceptively negative turns in the Reagan years (that's where your homelessness started, okay?), reeled in shock and and hastily zipped up when AIDS escalated, reeled again in 2001 and 2008, and it's been a downward spiral ever since. San Francisco, I miss the flowers in your hair, your wild abandon and delectable fish cakes. It's over. You paved the pleasure dome and put up a tent city.

[@Aieshoo]

Now it's a city of poop, homeless ppl, and rich techies.

[@camilleanderson4991]

Landlords don't want to rent. They are NOT getting paid!!

[@lorenrich2525]

I could care less.....the amount of greed in this state as far a housing goes is crazy

[@mynameisnotimportant2854]

if they had a mortgage on the building, they are assed out

[@camilleanderson4991]

Maybe work hard and earn your own money to but your own house.

[@lorenrich2525]

Camille Anderson , you’d have to be a fool to buy a home in San Francisco with those abhorrent inflated prices.....you can spend a lifetime working as hard as you possibly could and still not afford to buy a home in SF at those prices.....its just not pratical

[@camilleanderson4991]

@@lorenrich2525 I hope I never have to buy in SF.

[@Martin-Savage]

I might look into it when it’s only a 1000 a month or 500...

[@patandbrandi]

redfin sent me an email saying lots of out of town buyer's looking in Sacramento area.

[@allen7585]

Thank God. Maybe San Fran will finally turn back into the quarky city that made it so unique in the first place

[@deadmeme5726]

Have fun till they go back up.

[@kansasthunderman1]

The market is still headed on a downhill slide and rents won;t go up anytime soon..... if at all.

[@compass_Matt]

Those same people decided to build lakefront mansions across the country for the same price.

[@wolfhunter6711]

Maybe the crap and needles in the street have something to do with it.

[@simon5005]

Very satisfying to see the greedy people suffer for a change.

[@araelsdominguez]

What is the best way to start a conversation with the landlord about lowering my current rent?

[@AliAhmed-dh4pl]

How does one go about renegotiating rent cost with landlord? Anyone have experience who can provide advice? Thanks in advance.

[@sonyb8017]

Find listings of comparable apartments and show them to your landlord. Negotiate cheaper lease and or shorter lease.

[@dskyy2001]

Rent prices in San Francisco declining is not a silver lining but cloud of things to come. Businesses and entrepreneurs leaving the city.

[@kailani112]

4895 ? Thats insane!

[@jose09841]

That is called a CLUE!! Smart people are LEAVING San Fran due to their abusive rent prices!! Hopefully the only ones staying will be the HOMELESS

[@muj3595]

I love visiting San Francisco! But I would NEVER live there, visiting cities like SF make me great full to be from a conservative (but not batshit crazy) state like Utah :)

[@coconutads]

When you move don't vote for the same thing you left. Keep voting in the same people, pelosi, waters, schiff ect. Expect the same result.

[@marks9949]

cool ladder shot bro. 1:10

[@lu_re7198]

Get a month-to-month agreement, so your rent can be re-negotiated as the rates spiral downward.

[@richpoor2855]

It’s dropping because of pooooop on the sidewalk, no police, and poor leadership. Homeless and DA not prosecuting any criminals helps too!

[@Jayro440]

It’s about time. Maybe some less affluent and creative people can move back in and recreate all of the things that made San Francisco a special place. Money and tech have sucked the life out of the city.

[@gurujr]

Rent rates in SF need to totally crash in order to get even for the obscene rent increases happening since 1995. Burst that 25 year bubble. "Kill my landlord. Kill my landlord."

[@GeneDexterExperience]

Let me know when it’s $2000 for a two bedroom in city. Not before then. Thanks in advance.

[@normansilver905]

Premium on rent's in the toilet bowl of the west coast?? Crazy! Commute from other areas and save a lot.

[@MrBrownnn696]

Good those rich people need to be humbled big time.

[@LowVoltChamp925]

3.5k is still way to high. This isn't news people are bailing on their leases and moveing back to where they own property. Fluxing 1000$ is not a drop it's an adjustment. Overall it's not noticeable, remeber there is a homeless problem in SF these people staying on the market are a cash grab from failed leases.

[@jyee2217]

Renters mkt...tough to pay 5k mo on ca unemployment pymts of $450 per week.

[@Petlover10000]

That is in sane, almost $4,895 and they dream living in that building. Don't rent it, let it leave vacant and it will drop to $3,000.00

[@anthonylopez4386]

Well of course SF overall the prices older rent in the Bay Area are ridiculous... they are trying to make these cities Elite...

[@a.zamora2795]

4895!? Holy🤯

[@vanxl9]

SF sucks. Rent too high not worth it. Move to Los Angeles we have a better team the Lakers.

[@jle430]

Finally they drop the prices

[@propblast82nd]

People are leaving California !!!

[@julioandresarriagarangel7183]

Let me take out the tiniest violin and play the shortest sad melody for the landlords.

[@hieumai2442]

No eviction during the Corona virus

This is good news. A correction. Prices should drop. Only $4895?

[@lovegenderless]

That s*** hole has been overpriced to begin with

[@jamesh7195]

Homeless problem solved, they won't have to crap on the street.

[@blessethishe]

F rent. What about housing prices? Also, if its not rent control then......

[@thomasfontaine3002]

It won’t make a big difference unless it’s like -30-40% they’re too greedy for that

[@anfieldreds_1892]

Thomas Fontaine i bet you it would but even though why are they greedy? the vast majority of landlords have a mortgage to pay, some are just barely making a profit. Above all, market forces determines the price, not necessarily greed. If fee market reign (without government intervention) then you’ll see a balanced market view

[@thomasfontaine3002]

tshekedi walker I understand the landlord struggle as the issue trickles down. I may be talking about the source of the greed which is the state and country wide. But... landlords have been taking advantage and are part of the problem to get into the mortgages that they take out. I take your point though.

[@NickRussoTV]

Yes! Keep it going down! Hopefully landlords saved up all the money they overcharged people. Great news!!!! Down down down! 😂

[@sarabeth8050]

The rents are still about double what they should be.

[@debradevonne1545]

Did anyone mention the bubonic plague is on rise in California?

[@lovegenderless]

And then Costa Rica I don't have to pay taxes when I start a business

[@mariluornelas7914]

Uuu wauuu low income is on $15 /hr this prices are unhuman Or maybe the low income is unhuman???🤔

[@lawofparsimony]

that turnshot was weird kenny

[@theodoresmith5272]

So why don't we see it nation wide if it's from corona?

[@bluenightsky]

Suburbs are staying the same or increasing. It's the big cities that are losing tenants.

[@reneel2441]

SF is like 700% above the price its worth

[@tycobb2580]

$3280 a month for a one-bedroom? WOW WHAT A DEAL!! Do I get to smell the homeless drug addict's poop outside my window??

[@farhanam.3274]

This bubble needs to burst.

[@happyraccoon4791]

If you make $60,000 year you take home less than $4000 month. Think about that. $45,000 maybe $3000 mo

[@taoist32]

Happy Raccoon Yes, you need to make at least $100,000 a year to live a minimal lifestyle in SF.

[@jtv0]

Live outside the city and within your means. You can easily find affordable housing in Daly City or Burlingame.

[@jtv0]

Fionabuster D. 120000 combined wages.

[@bluenightsky]

So many couples rent space together. That makes it $6000 a month. For the rest of us relationship-phobic people, we either live in a shoebox with a toilet or have 2 roomies in one shared room of a house of 8 people in a 3 bedroom 1 bath. 😩

[@jtv0]

Fionabuster D. Then don’t buy a home in the Bay, move to a state more affordable. You being single doesn’t reflect the housing prices because home owners sell based on market value. Instead to buying a house, you can look into condos or townhomes. It is far more affordable.

[@svongsa]

Landlords will eventually raise rent to pre COVID-19 prices

[@marketbuy]

Buy an RV and park it at your friend’s house.

[@lovegenderless]

All of that money to live in a greedy concrete jungle of slavery

[@germ271999]

Sit back and enjoy the decline.

[@MrManuel9999]

Finally about time

[@Jess1234]

Who wants to live in a drug/homeless infested city

[@jasonsmith1143]

good luck paying all that rent

[@quartytypo]

San Francisco = New Alcatraz

[@lovegenderless]

I can buy land in Costa Rica and have acreage of view of the ocean sunset views for that price in fact I do

[@rbzsfg]

JJ Panzer Dragoon Saga

[@bluenightsky]

Bout time!

[@idaho38]

1:38 santa claraaaaa...yes trashdashian

[@mandalor-8315]

Dropping??? Until it drops 60% then speak double digits ain't shit

[@gstate4ever]

What does all this mean in actual numbers. Can I get a 1 bed room in so for say 1500 a month?

[@bluenightsky]

You can probably get a room in Bayview or the Tenderloin for that price if you're lucky. Will be shared space with roomies in other rooms of the house.