We all know that there are certain areas where rent is more expensive than others, but when buildings and areas which use to be classified as affordable suddenly increase their rentals one has to sit up and ask why. In San Francisco the price of renting even a one bedroom apartment is much more expensive than other parts of the country, and the analysts are saying that it is because of the technology available in the area.
Apart from exorbitant rentals, the unemployment rate in San Francisco has decreased as dramatically and the population has increased. Another contributing factor to the high rental costs is that the supply of places to rent is lower than the demand for places to rent.
The article on Priceonomics details the latest reports and how you can calculate your average rental based on your specific requirements.
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