San Francisco has surpassed New York City as the most expensive U.S. market for two-bedroom apartment rentals, driven by an influx of hiring in the artificial intelligence sector and a drop in available housing inventory.
The median monthly rent for a two-bedroom unit in San Francisco rose 5.6 percent month-over-month to $6,020, according to data published by real estate platform Zumper. That figure reflects a 25.9 percent increase compared to the previous year and marks the first time two-bedroom rents in the city have crossed the $6,000 threshold in more than a decade of tracking by the firm.
