Rentals

Renters in the Bay Area are feeling the squeeze

AppFolio survey sees millennial preferences and issues looming large in San Francisco
  • San Francisco renters race to find appropriate rental housing in a tight market.
  • AppFolioProperty Management can streamline the rental process, especially in tight markets where people want to rent a unit on the spot.
  • The company conducted a survey which found that in cities such as San Francisco, some renters don't blink at paying more than half of their monthly income for housing.

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In a recent survey commissioned by a software company in the property management space, some of San Francisco’s key issues stood out. First, the tight supply in San Francisco, and all of the related economic consequences loomed large. And, related to that strain, a large percentage of millennials, who make up a hefty chunk of the city’s renters, admit to spending a huge percentage of their incomes to keep a roof over their heads. AppFolio Property Management surveyed 1,500 U.S. renters in January 2016 to delve into what makes the rental transaction tick. The survey results, meant to be used as advice for professional property managers who oversee anywhere between 10 and 5,000 units, also point to national trends in the multifamily rental segment as a whole. AppFolio’s vice president of product Nat Kunes shared information about the multifamily market in San Francisco. What he shared was not surprising. Even though the survey results are presented in overall dem...