Having “only” increased by 4.5% in 2015, early 2017 rents have reportedly dropped 8% since the same time last year, and SocketSite reports that San Francisco rents have fallen back down to 2014 levels.
Only time will tell if this is a function of peak unaffordability, the inevitable realization of the development pipeline from the recent housing boom, or a decline in the number of San Francisco residents with jobs.
