San Francisco has replaced the Big Apple in becoming the most expensive rental city in the United States. With skyrocketing rent prices in San Francisco, many have moved out of the city and commute via BART.
Mobile rental marketplace RadPad analyzed 17,000 properties listed between July and September that are within half a mile of one of the 44 stations BART stations, to determine the median one-bedroom rent.
RadPad CEO and cofounder Jonathan Eppers said the purpose of collecting this data is to help renters make smarter choices in terms of where they rent. “We want to tell renters, ‘Hey, you may be able to save a couple hundred dollars a month by living two stops down the line, and it may just add 10 extra minutes to your commute time,'” said Eppers.
The Embarcadero Station area, which is near the financial district, had the highest median rent along BART lines, at $3,548. Nearby stations Montgomery and Powell took second and third places, with $3,490 and $3,348 median rent, as an abundance of techies push up the price.
Renters shouldn’t be discouraged, as there are some good value locations along BART that will save some money and add just a bit of commute time.
In the East Bay, near Coliseum and Bay Fair stations, the median prices are $1,458 and $1,199, respectively. At the same time, Walnut Creek, with only a 35-minute commute to San Francisco, has easy access to great restaurants, bars, and shopping. Its median price is nearly half of that of San Francisco, at $1,850.
Peninsula lovers might consider Daly City and South San Francisco, at $1,995 and $1,737.
Some of the least expensive stops along BART lines include Richmond at $1,150, Hayward at $1,150, and South Hayward at $1,100.
RadPad is a Los Angeles-based rental mobile app that Huffington Post describes as a hybrid of Craigslist and Instagram. Eppers said it differs from Craigslist in requiring at least three photos to list an apartment, and renters can pay rent through the app, even if the landlord is not a user.
The primary users of RadPad are young professionals—80 percent are between 22 and 34 years old, with about 55 percent of these being under 26.