We already know that we'll never own a home in San Francisco and that renting a 1-bedroom anywhere in the Bay Area is increasingly becoming unrealistic for most people. You would think we'd be used to this kind of news by now, but it's still shocking every time a new report surfaces with more bad tidings.
Take the new list from Forbes, which ranks the best and worst cities for renters. It's no surprise that San Francisco is considered the worst in the country. What's a bit more surprising is that Oakland is second worst and San Jose was able to snatch 3rd place from notoriously unaffordable New York City. Over the past year, vacancy rates for all three cities are under 4% and rental costs have surged 12.8% in SF, 10.5% in Oakland, and 11.3% in San Jose. Will the bubble ever burst? Or are we all destined to be priced out, singing a bitter elegy for our former hometowns on our way out?
