The words “astronomical” and San Francisco real estate are often used in the same breath, and new housing market insights from Trulia holds the reputation steady.
Both rent and for sale prices ended strong in 2015. As of January 1, the highest median rent could be found in Forest Hill at $6,770 per month and the highest median listing price on homes for sale was $2,995,000 in the Presidio Heights neighborhood.
Searching on a tight(er) budget
While not recommended, living in the city of San Francisco on a relatively small monthly income is difficult, but doable. At the start of 2016, the least expensive median monthly rent in the city was for apartments in Visitacion Valley at $1,956 per month.
Although prices were fair, the median apartment size is 1,350 square feet, allowing more than just studio space. The next least expensive median rent was in the Tenderloin for $2,200 per month, followed by $2,750 per month in Forest Knolls.
Some savings and a pre-approved loan could afford buyers in the Bay Area the $550,800 median for sale price in Hunters Point, which was the least expensive median in San Francisco as of January.
Keep in mind, the median square footage in Hunters Point has dropped slightly since December, from more than 1,240 to just kess than 1,190, so smaller size may be representative of a lower price tag.
Ingleside Heights is the second most budget-friendly neighborhood in the City by the Bay, with a median for sale of $595,000. Both medians shy far below the $1,454,631 average San Francisco list price.
Mid-range properties in the City by the Bay
The options increase dramatically for renters in San Francisco with the money and credentials to lock down a 12-year lease.
Renters searching for units in the Downtown neighborhood might find listings around the median $3,250. In SoMa, the median price is $3,590, with a median square footage of 780. Nearby Nob Hill apartments were slightly higher at $3,700 per month. Generally, rent prices stabilize with accessibility to offices, restaurants and big retail, which keeps these areas in consistent demand.
For buyers, a home in the SoMa district for the median $889,000 may buy an 1,880 square foot home, which is the median size for the neighborhood.
Other neighborhoods offering listings below the million-dollar mark included Bernal Heights, where the median is $979,000, Central Sunset at $954,400, Outer Richmond at $925,000 and Mission Dolores at $874,000.
High-end properties with big price tags
In the trendy Cow Hollow neighborhood near the Marina, apartments list for a median $4,423 per month, and the median apartment is 1,300 square feet. Pacific Heights rentals typically have similar pricing due to their close proximity to Cow Hollow, and units list for a median $4,800 per month.
Drive 15 minutes south and land in the colorful Mission Dolores neighborhood, where apartments go for $4,695, as of January 1. In Russian Hill, just north of Nob Hill, the median price point on rentals is $4,598.
On the higher end of the San Francisco buyer’s market, a median-priced home in upscale Noe Valley costs $1,425,000. The median home size in Noe Valley is 1,440 square feet, which means buyers would pay about $957 per square foot on the median price and size home.
On Telegraph Hill, a highly picturesque neighborhood in San Francisco, the median for-sale price is $1,499,000. The second priciest median for-sale neighborhood in San Francisco is Monterey Heights at $2,092,500.
More to follow on Trulia’s rent and for-sale prices in San Francisco and beyond.
Jennifer Riner is a real estate, finance, design and home improvement writer for Zillow Group and partners. Connect with her on LinkedIn or follow her on Twitter for more.