🏘 June rental report
Plus: Where am I?
Hey there, San Francisco.
Happy Tuesday. With home sales slowing in San Francisco, I’ve been wondering what that means for the rental market.
As in, if fewer people are buying apartments or condos or houses, does that mean the demand and prices for rentals are increasing?
Luckily, the rental site Zumper released its national rent report on Tuesday, which showed sort of a mixed bag for San Francisco.
The median price for a 2-bedroom apartment in June ($3,950) was down 1.3% compared to last month. Meanwhile, the median price for a 1-bedroom ($3,000) was up 3.4%.
Interestingly, that 3.4% uptick in June was the highest month-over-month rent increase for a 1-bedroom in San Francisco since last June, when it rose 5.3%.
And, it’s the first time that rent for a 1-bedroom in San Francisco has hit the $3,000 mark since August 2020, when the median price was $3,040, according to Zumper.
Still, as we’ve been reminded time and again, rent in San Francisco is still below pre-pandemic figures.
The median price for a 1-bedroom in June 2019, for instance, was $3,720, according to Zumper.
With that… onto the news…
Quick bits: News to know
🔫 The man arrested in connection with last week’s fatal Muni shooting will not face homicide charges, his defense attorney told the Chronicle.
“It’s a clear case of self-defense,” the attorney said.
According to video footage reviewed by the Chronicle, the alleged shooter, 26-year-old Javon Green, appears to have been first attacked with a knife.
Green, a security guard who carries a firearm for self-protection, his lawyer said, will instead face charges for having a concealed and loaded gun in a public place. (Chronicle)
👀 Chesa Boudin, who residents recalled earlier this month, could end up running again for the District Attorney position this fall or in next year’s regularly scheduled election.
In his first interview since the recall, Boudin told the Chronicle: “A lot of my supporters and endorsements and donors and Democratic clubs that were behind me are urging me to run now, or in 2023.”
“I’m committed, as I always have been my entire life, to doing the work to support our communities, to fight for a fairer system of justice,” he said. (Chronicle)
🚎 Five Muni bus lines that have been suspended since the start of the pandemic will return July 9. They are the 2 Sutter, the 6 Haight / Parnassus, the 21 Hayes, the 23 Monterey, and the 52 Excelsior. (SFGATE)
🍗 Popeyes is planning to open its fourth San Francisco store by the end of this year, SFGATE reports.
It’ll replace Chipotle in the downtown Westfield mall food court.
The other three Popeyes in the city are located in Excelsior, the Fillmore, and on Divisadero Street. (SFGATE)
What else I’m reading: Links to browse
Lies, a Shakedown and a Ford Mustang: Veteran SF Police Officer Arrested in Lucrative Fraud Scheme (SF Standard)
San Francisco housing development has slowed to a crawl, with no uptick in sight: ‘The costs are simply too high’ (Chronicle)
60 More San Francisco Artists Receive Guaranteed Income Payments Through YBCA (KQED)
Director couldn’t resist setting ‘Minions: The Rise of Gru’ in his beloved Bay Area (Datebook)
And finally… Where am I?
Can you guess where we’re hiking? As always, it’s somewhere in the city.
And the first person to respond to this email with the correct answer wins a $20 gift card to a local establishment of their choice!
That’s all for today! Have a nice night y’all and see you back here tomorrow.
- Nick B. 🥾