— By Jack Morse (@jmorse_) |
While it comes as no surprise that rents across San Francisco continued to increase this past September, the Mission and Bernal Heights were two notable exceptions to the trend.
Curbed reports:
The Mission, which seems to always feature in conversations about about gentrification and high rents, has since January actually seen its median one-bedroom rent fall by $300, to $2,500, which is lower even [than] its August 2013 rate of $2,725. This is one of the only neighborhoods that has seen a price drop, although nearby Bernal Heights has also lowered from $3,070 in January to $2,650, just above last year’s $2,525.
It is important to note that it’s unclear if this is an actual sustained downward trend or just a quick moment of relief. As Curbed and Zumper’s data points out, rents increased in the Mission at least through this past January before falling in recent months.
[Curbed]
Comments (1)
Why look at the median? That is a completely useless metric for understanding rents in SF. It would take an extra 15 minutes to look at the average instead. Or you could break rents down by their mode. For example you might find that last September there was 1245 1 bedroom apartments renting for $2000 and there was 530 1 bedroom apartments renting for $4000. While this September there were only 724 1 bedrooms renting for $2000 and 932 renting at $4000. That way you could better understand how cheep apartments were becoming less frequent and luxury apartments were more common. Which we know is the case.
Either the author doesn’t know what a mean statistic means, or uptownalmanac.com doesn’t have the time or money to pay someone to just do the work. Or both.