The Chronicle’s CW Nevius has critiqued SF’s property renters, claiming that “we only care about what we own,” but caring is apparently only for the profligate: in a recent Trulia.com study, they’ve found that San Francisco is the 9th best city to rent rather than buy property in.
Their findings come from a rather easy formula of simply dividing the average list price by average rent. The resulting number determines whether you’re better off renting, buying, or doing either depending on circumstances. And, hey, when you do that, those uncaring renters of San Francisco appear to come out ahead. Way ahead.
Admittedly, it’s not a perfect formula, but this study feels believable when you take a look at this Curbed article listing the nation’s most expensive one bedroom properties.
SF’s own 1200 California nears the top of the list, with a one bedroom property you can buy for only $2,895,000. Oh, and $1,611.89 in monthly “maintenance” fees, “which includes 24 hour doorman, resident manager, premium cable TV, window cleaning, heat, electricity, water, laundry and guest parking.”
Yup, that’s a monthly maintenance fee in excess of what most folks spend on a one-bedroom in SF. That’s a lot — a massive amount — of caring.
Photo proof that rich people might shit too: 1200 California