11 facts about San Francisco's housing market that will make you glad you live somewhere else
- The San Francisco housing market has gone off the rails in recent years.
- Thanks to an influx of tech money and limited housing stock, average rents have soared to more than $1,700, and a one-bedroom will cost almost $3,700.
- For home buyers, San Francisco is the most expensive city in the US, with an average asking price of almost $1.3 million.
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San Francisco is less than 49 miles square and, with water on three sides, there's no room to spread out.
Add an invasion of tech company headquarters plus the money from a spate of recent IPOs, and you have the recipe for the a real-estate market that can only be described as out of control.
San Francisco is a gorgeous city, with fabulous views of the bay from rolling hills. Increasingly, however, it's also an unaffordable city for all but the super wealthy, where even middle class residents find it hard to hang on. The limited supply of homes and the river of money flowing in have created a historically overheated housing market.
Here are 11 unbelievable facts about the San Francisco real estate market that will make you glad you live somewhere else.