SF Bay Area ‘Rents Gone Wild’

rent

It’s obscene.

The annual cost of rent in Silicon Valley has risen an average $9,000 over the past 18 months.

Since January 2011, the nine county San Francisco Bay Area has seen the annual cost of rent rise $6,000. In the city and county of San Francisco, the increase was $5,000.

Along with additional upward pressures on housing rents, the increases coincide with a spat of initial public offerings (IPOs) including those from Facebook, LinkedIn, Groupon, Zynga and others, according to some nifty infographic work by Chris Herndon over at ApartmentList.com, a portal for renters looking for homes.

And guess what? Ironically, that extra $9,000 a year you spent on rental housing in Silicon Valley? You could have purchased more than 2,660 shares of Zynga stock, 1,230 shares in Groupon or 82 shares in LinkedIn.

Better yet, you could have chartered 4.5 jets to Vegas (or just one and gambled the rest away), gone to 45 S.F. Giants games (in box seats); purchased 18 iPads (as wall hangings) or drank your way through 4,500 cans of bad beer.

All you want is a roof over your head, you say?

Monthly rents are often more than the cost of many monthly mortgage payments.

Mouse over ApartmentList.com’s infographic below and click to expand.

Just be sitting down first.

About the author

A DeadlineNews.Com Silicon Valley Contributing Writer, with a penchant for the quick, story-telling capability of infographics, Mark K. Hicks is broker/owner of The Seabrooke Group in San Jose, CA. Hicks, who takes a "client for life" approach to business, has more than 20 years real estate experience, including creative financing, foreclosure acquisition, probate sales and tax-deferred exchanges. Network with Hicks on LinkedIn.

Website by imagiNed Web Design