Rental prices in SF & the Peninsula (San Francisco, Oakland: apartment, neighborhood)

[charbo]

I have been vigorously searching for a rental over the last three months...only problem is that the rental rates are too high, about $1400 for a less-than-nice 1BDR in a less-than-nice neighborhood on the Peninsula. I see repetition in postings on Craigslist, but few drops in price. For Rent signs seem to be becoming more prolific as well.

My landlord just raised rent by $100/month last week to take my 1 Jr. bedroom apartment up to $1500/month. The reason being stated is that her costs for running the place with utilities has increased substantially. This is a place that has no dining room, few amenities and is about 450 sq. ft. small. I can clearly hear my neighbor's conversation and radio through all common walls, which of course includes the bedroom and living room.

To say I've had it is an understatement. Is the boom market here approaching the tipping point yet, or is it going to be a continuation of pretending like nothing has happened to the economy?

Anyone else out there right now looking for a nice rental - what are your observations of this market?

[mayorhaggar]

Yeah, despite the crappy economy in the Bay Area, rents don't really seem to be going down at all. Prices in SF seem to always creep higher no matter what.

Maybe check out the East Bay though. You can get studios in nice areas of Oakland and Berkeley for around $800-900 a month, and in my building in Rockridge they had a 1 bedroom for $1100 which seems pretty cheap to me since it's a great area, in SF you wouldn't get a nice 1 bedroom for less than $1400. And a friend of mine in Rockridge has a 2 bedroom for $1250.

Prices may be staying high but getting an apt seems easier though now, last time I was looking for an apartment in SF was about 3 years ago and it was totally impossible, I looked for months and could not get anyone looking for roomates to respond when I'd reply to their craigslist listings, and I went to studio apt viewings and the landlords would never get back to me. I was seriously thinking about giving up and leaving the Bay Area when I finally lucked into a studio in Hayes Valley.

Then about a month ago I was looking for a new place and got my studio in Rockridge. The landlord gave me the apartment immediately, I didn't have to look at any other places at all and the place is pretty good and in a good quiet area. I'm sure the East Bay is less competitive to get an apartment in than SF, but it surprised me how easy it was this time compared to last.

[sonarrat]

$1500 is ridiculous for a junior 1-bedroom anywhere outside San Francisco proper. I see junior 1-beds in Belmont, and on a dead-end street with a park at the end, for $1200. If you're really in a bad neighborhood, then you're getting a bum deal no matter the economy.

[mdwstrnkid]

Just curious: what's the difference between a 1BR and a Jr. 1BR?

[sonarrat]

The junior 1-beds I've seen were converted studios that had dividers for a sleeping area.

[charbo]

Thanks to MayorHaggar for relating rental experience. It's good to hear that the East Bay provides more options - sadly, given my work schedule and bridge traffic, I don't think I'll be able to live out there, but I do see the appeal. I may resort to the South Bay, although traffic congestion along 101 is blocking me somewhat that way as well.

[sonarrat]

Maybe check out west Redwood City, around Whipple Ave. I didn't like it myself (I was on Jefferson), but there's no question it's a good neighborhood.

[silverkris]

Originally Posted by charbo

Thanks to MayorHaggar for relating rental experience. It's good to hear that the East Bay provides more options - sadly, given my work schedule and bridge traffic, I don't think I'll be able to live out there, but I do see the appeal. I may resort to the South Bay, although traffic congestion along 101 is blocking me somewhat that way as well.

Where is your place of work located in relation to your current residence? It looks like you're working in SF. Are you close to BART?

[charbo]

Workplace is in Redwood City near 101...I generally socialize in SF nights and weekends