San Francisco rental prices slip slightly in December

SAN FRANCISCO -- San Francisco renters found a bit of year-end relief in the nation's most expensive apartment market, according to Hoodline's analysis of data from rental listing site Zumper.

The median price for the 337 one-bedroom San Francisco apartment rentals listed on Zumper in December -- $3,990 -- dipped slightly compared with the month before. November's median one-bedroom rent in the city was $4,052, across 695 listings.

That decline also holds when you account for apartment size. From studios to a pair of five-bedroom affairs, rental units listed on Zumper during December declined in price at every size. The median price for apartments of all sizes was $4,978, down from $6,495 in November. But total apartment volume in December -- 801 -- was only half of November's.

Hoodline's analysis focused on Zumper listings tagged as "apartments," with other rental types like condos, homes and duplexes excluded. Apartments represented 49 percent of December's total listings.

The sweet spot for San Francisco rentals continues to be one-bedroom apartments, which accounted for 42 percent of apartment listings. November's 695 one-bedrooms were 44 percent of the total.

The Western Addition, the Marina and SoMa were home to the most one-bedroom rentals in the city in December. Of the three neighborhoods, renters might find the best deals in SoMa, where the median rent dropped 62 percent compared to November.

The 31 Zumper-listed rentals in the Western Addition represented an inventory drop of 14 percent from November's 36, with the median rent of $4,200 up 16 percent over the past month's $3,620. The Marina saw a 53 percent price hike for its 20 December listings, bringing the neighborhood's median price up to $4,425.

Both Mission and Nob Hill one-bedroom apartments dropped in price as well, lowering those neighborhood's medians below the city as a whole -- $3,660 for the Mission and $3,700 for Nob Hill. 17 rentals were listed in each neighborhood last month.

December's most expensive listing was a furnished unit at 2121 Webster St. | Photo: Zumper

December's most expensive listing was a furnished three-bedroom, four-bath tri-level condo at 2121 Webster St., which is renting for $17,000.

That matches November's top listing: $17,000 for a three-bedroom, three-bath in the St. Regis hotel (188 Minna St.), whose "sought-after northeast corner residence offering glorious views of San Francisco skylines, luxurious amenities and designer finishes."

Top-end neighborhoods for December were Rincon Hill, which had three one-bedroom listings at a median price of $5,290, and Anza Vista, with two listings going for a median of $5,223.

The high end for one-bedroom apartments contracted in comparison to November, when three dozen apartments over $6,000 were listed in the Financial District, Mission Bay and Fillmore.