A one-bedroom apartment listed for $2,195 a month has been identified as a rare deal in San Francisco, where the median rent for similar units has surged to $4,180. The listing, found on Zillow and managed by J. Wavro Associates, is located at 245 Leavenworth Street.
Recent analysis from Zumper indicates that San Francisco's one-bedroom rents have increased by 22.9% year-over-year, a trend attributed to limited housing supply and a growing demand fueled by the technology sector, particularly the AI boom. This surge has pushed the median rent to nearly double that of Los Angeles.
The newly identified apartment does not include laundry facilities or parking but features hardwood floors and ample natural light. A one-year lease is required, and pets are allowed with an additional $75 monthly pet rent. Residents have access to elevator service and are situated near public transit, shopping, dining, and downtown attractions.
The unit is located in the Tenderloin neighborhood, an area identified by Safemap as having high crime rates, with assault and battery accounting for a significant portion of incidents. However, the neighborhood also scores highly for walkability, bikeability, and public transportation access.
This discovery comes as desperation for affordable housing in San Francisco has led to other listings, such as micro-studios described as extremely small spaces with shared bathrooms and no kitchens, priced as high as $750 or $800 per month. These units often measure under 70 square feet.
Meanwhile, other areas in California offer more affordable living. A report by Houzeo identified Porterville, Fresno, and Bakersfield as the most affordable cities in the state, with median rents below $2,000. These rankings were based on median home values, median rent, and cost of living compared to the state average.