If you’re moving to (or within) San Francisco, you already know a few things. You know it’s a diverse and exciting city. You know you have options to live near the water, near historic monuments, near nightlife or in a quiet locale. And you also know that the cost of living, and renting, is pricey.
You know you want to move to or stay living in San Francisco. But do you know how to find an apartment in San Francisco? First, you’re going to want to know what rental fits your budget. You’re also going to need to know the lay of the land.
What is the best way to find an apartment in San Francisco?
Before you start your apartment hunt, you’ll first need to determine what your financial plan is. Using the information below, calculate how much you can afford to pay for apartment rent. As well, you may want to research the affordability of your many non-rent expenses. These may include utilities, parking, monthly transit, community fees, trash, groceries and more. In the end, only you will know how much of your income will need to go to expenses, how much to save and how much for discretionary spending.
Once you know your budget, it’s time to figure out where you want to focus your apartment hunting. Scour the rest of the information to decide which of San Francisco’s many neighborhoods are right for you and your bank account. Are you a nightlifer in the middle of the action in North Beach or Mission District? Looking for upscale living in SoMa, Pacific Heights or Nob Hill? Want a rental by the water in Outer Sunset or Marina District? Maybe a neighborhood with a special vibe like Haight-Ashbury, The Castro or Bayview?
And don’t forget to calculate the time and expense of commuting from your apartment. If you’re a remote worker, you have the pick of the area to find a great spot. But if you’re heading to the office every day, you have to take convenience into consideration. The city is extremely walkable and bikeable, with convenient public transportation. Figure out how you’re getting to work, and what that’s going to run you on a monthly basis.
How much are apartments in San Francisco?
A lot. San Francisco consistently ranks among the top two most expensive cities for renters in the nation. So, don’t be surprised by sticker shock. But take solace in the fact that your neighbors probably aren’t getting a much better deal, and you’re living in one of the country’s coolest cities.
A studio leases for an average rent of $2,645. You can get a two- or three-bedroom for that in most cities. So, you know where you’re starting, and it goes up from there. An average one-bedroom lists for $3,457 and a double goes for $4,653. All the way up to a three-bedroom? Hope you have roommates to split the average $5,387 per month lease.
Overall, 90 percent of apartments in San Francisco are over two grand a month. Just one percent of rentals in Golden Gate City are available for less than $1,000.
How much do you need to make to live in San Francisco?
There’s a general rule that says you should put aside 30 percent of your take-home salary to spend on rent. While many argue that’s an old wives’ tale, it’s still a good place to start. There’s one thing to remember when making these calculations. Yes, San Francisco is an expensive place to rent, and it carries a high cost of living. But it’s also the top city for making more money for doing the same job as you would elsewhere.
So for example, as stated earlier, one-bedrooms average $3,457 a month. With the 30 percent rule, you would have to make $11,523 a month to afford to pay for an average single. That translates to over $138,000 a year salary. For renting a two-bedroom, that’s $15,510 monthly and over $186,000 yearly. All the way up to a three-bedroom apartment? Be ready to bring home $215,000 a year to spend 30 percent of your $5,387 monthly take. These become much more affordable in a multi-salary family or with a roommate or two.
Other monthly expenses besides rent
After setting aside your 30 percent, that leaves 70 percent for everything else. In San Francisco, utilities in total can run around $268 a month, with an additional $70 for the internet.
With a high cost of living, groceries will also be pricey. In fact, a full supermarket trip can run almost $500. There are many transit options between BART, CalTrain and Muni. So, depending on your location and if you’re commuting to work, you must calculate your travel costs. And owning a car? That can run over $1,200 a month.
As long as you can afford the 30 percent threshold for rent and pay your expenses, discretionary spending and savings into the other 70 percent, San Francisco is all yours. If the price is right.
Are apartment prices dropping in San Francisco?
The simple answer is no. But you can blame at least some of that on the pandemic. In 2020 and 2021, many cities, including San Francisco, experienced record low rents. More people started working from home and moving to cheaper locations, or others moved out of town entirely to get away from crowds. But since the second half of last year, rents have skyrocketed back to pre-pandemic levels and even higher as landlords try to recoup lost rental revenue.
Among a sample of two dozen of the region’s most popular neighborhoods with significant apartment inventory, only four decreased in rent from this time last year.
But in the short term, it does look like there’s a bit of relief as the rental market correction slows. Over the last month, studio apartments have stayed flat, and one-bedrooms are up just under $150 a month. And while two-bedroom units have jumped about $300, three-bedrooms have actually dropped by around $600.
Which San Francisco neighborhoods are the most expensive?
Considering the overall expense of living in San Francisco, it’s not a surprise that there are some extremely high-rent neighborhoods. Whether you’re blessed to have the income to afford to live in these costly locales or have gathered enough roommates to split the cost, you can find upscale living around the city with all the perks. So, which neighborhoods will push your savings to their limits?
The most expensive neighborhood in San Francisco at the moment is Hayes Valley. The diminutive district is a micro-hood located within the popular Western Addition. It lies just a couple of blocks east of the famous Painted Ladies houses and two blocks east of City Hall and the Civic Auditorium. It’s known for its designer fashion boutiques, trendy restaurants, buzzy bars and dessert shops, mostly along Hayes Street. And to live in the lap of luxury, you’ll have to shell out $4,310 a month for a one-bedroom.
For a two-bedroom, the highest rent price lies in the northeast neighborhood of Russian Hill. It’s best known as the home of zig-zaggy Lombard Street. Rent for doubles runs $6,099 a month on average. Both studios and three-bedroom units are the most expensive in Rincon Hill, the small district along the Embarcadero at the foot of the Bay Bridge. An average studio leases for $3,163 and a triple goes for $6,586 each month.
Which San Francisco neighborhoods are the most affordable?
In one of the most expensive cities in the nation, every neighborhood might seem expensive. But even when areas are pricey, they can still be below average. Some place has to be the cheapest. So, what are the most affordable ones in this often-unaffordable locale?
The cheapest neighborhood? It’s Chinatown. San Francisco’s Chinatown is the O.G., the first Chinatown in North America. Despite its great location between Nob Hill and the Financial District, one-bedroom apartments lease for just $1,737 a month.
If you’re on the search for an affordable two-bedroom unit, you’ll be excited to find them in Tenderloin. The former gritty and artsy district has rental prices that have not yet caught up to its popularity. Shops, restaurants and bars run from divey to upscale. And an average monthly lease for a double runs for $2,650. The cheapest studio apartment and three-bedrooms are available in the historic hippie counterculture sister ‘hood of Lower Haight and Haight-Ashbury, respectively. Lower Haight studios are just $550 a month on average. Next door in Haight Ashbury, a triple rents for a monthly average of $3,450.
How does San Francisco compare to other nearby cities?
San Francisco is just one of the three major cities that make up the Bay Area. Generally, San Francisco is the priciest. For rent pricing, how does San Fran compare to its neighbors Oakland and San Jose?
A studio in San Francisco runs $2,645 a month on average. Meanwhile, Oakland is much cheaper at $1,950 with San Jose at $2,485. For units with bedrooms, however, San Jose is cheaper than Oakland, both more affordable than San Francisco. A one-bedroom in San Francisco comes in at $3,457, with San Jose running $2,704 and Oakland with $2,952. For two-bedrooms, San Francisco is a pricey $4,653. Oakland is right behind at $4,395 with San Jose at $3,444.
Rents in Bay Area suburbs and satellite cities
But there’s a lot more to the region than the three main cities. Not just suburbs, the region is rife with small cities with distinct personalities. The most expensive place for studios in the region is Palo Alto, home of Stanford and closer to San Jose, averaging $3,368 a month, much higher than San Francisco.
The suburb closest to San Fran’s prices is Alameda, in the Bay off Oakland, at $2,550. At $3,423, Palo Alto is also the priciest suburb for one-bedrooms, comparable to San Francisco’s rents, as well. And for two beds, Berkeley, the campus site of the University of California, has the highest rent, at $5,100. Oakland is most comparable to San Francisco.
And what is the cheapest suburb? That would be Concord, out in Contra Costa, almost an hour east of Downtown San Francisco. Concord has the most affordable studios at $1,662, one-bedrooms for $1,795 and two-bedrooms run for $2,155. However, as an outer suburb past the Diablo Valley, three-bedroom apartments in Concord are the most expensive in the region, at $5,313. What a difference. The city with the most affordable three-bedrooms is Rohnert Park in Sonoma, at a nice $2,750.
Your other San Francisco Bay apartment hunting needs
Now that you have the lay of the land, you know how to find an apartment in San Francisco. While the information here is San Francisco-specific, don’t forget the other steps in finding the best apartment regardless of where.
Narrowing down the apartment search
Carefully peruse listings on Rent. to find a new home that not only matches your budget and desired location, but also your personality. Apartment buildings and complexes have unique vibes just like neighborhoods do. Be sure to read all the available information on the style, amenities, activities and neighbors at any place you’re hoping to rent in San Francisco. Decide how many rooms you want your next apartment to have. And if you have a furry friend, be sure to ask the landlord if the lease is pet-friendly and if there’s a fee to pay.
Time to meet the landlord and see the unit
The next step, of course, is to make an appointment. The best advice is to do that directly through a unit’s Rent. page. Most times, your appointment is simply to view the apartment or take a virtual tour and ask questions. It’s possible you fall in love with the unit on the spot, so come prepared to fill out an application. Bring along your photo ID, employment and income information, previous address, background information and references. Also, a method to pay the application fee.
From there, you’ll go through the usual steps with the landlord or property manager to secure the apartment. Expect them to run credit checks. And after you sign your rental agreement, you may have to provide the first and/or last month’s rent and security deposit.
Take your knowledge and start hunting
From Golden Gate Park to South Beach, Dolores Park to Telegraph Hill, there’s a San Francisco apartment right for you. Now you can search and find apartments that aren’t merely perfect, but the perfect apartment for you. Hopefully, you’ll have seamlessly gone through the process from looking at listings to applying for approval, and be getting the keys to your new place soon.
