This is the cheapest SF rental we could find

In an effort to see how low rental prices really are in SF, we searched Craigslist for the cheapest rental within city limits this week. The winner at the time of our search was a “furnished, private room” in the Financial District. It comes with everything you could fit in the room, including a twin bed, a mini-fridge, a microwave and a mounted TV. There’s no bathroom or kitchen in the unit, but there’s a sink with a vanity in the room. It also appears to include a small closet, and the sheets for the bed are also included.

A shared kitchen is available for use in the building, as well as a shared bathroom, though it’s unclear how far from the room you’ll have to walk for either. Utilities aren’t included in the rent, but the listing estimates about $50 each month. There’s also laundry facilities in the building, but no parking is available, and pets are not allowed. 

It rents for … drumroll … $650 per month! Zumper lists the average rent for a studio apartment in the Financial District as $825, but those presumably come with a kitchen and a bathroom. Right now, the listing says you’ll get two weeks free rent with a six-month lease and one month free with a year lease — which would make your monthly rent technically $595 if you go with the year lease. Now, that’s a deal. 

New data from Apartment List also saw similar findings in October, with San Francisco rents dipping in October. The city saw a drop of 1%, while Oakland prices fell 0.1% and San Jose fell 0.4%. “I expect this is the start of a brief cooling period, as prices should continue to decline for the coming few months before heating back up in the spring,” Rob Warnock, research associate at Apartment List, said. “San Francisco, Oakland, and San Jose remain three of just a handful of cities across the nation that were unable to fully recover from pandemic-era price drops. Most everywhere else, rents rebounded quickly in 2021 and accelerated past pre-pandemic levels, but the Bay Area continues to enjoy a discount, if you want to call it that.”