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Jennie Butler | September 10, 2014 | Story

Hate the crown molding above your front door? Feeling too lazy to replace the peeling wallpaper in your kitchen? It’s time to address the issue or deal, because finding a new apartment - for most of us - is no longer an option (not even in Oakland).

It now costs 14.5 percent more to rent an apartment in San Francisco than it did in August of last year, according to a Trulia press release. This means that in-law you saw on Craigslist for $3,057 last summer is now going for $3,500 (San Francisco’s average rate for a two-bedroom). Oakland is close behind at a 14.4 percent increase, making the two cities the second and third highest rent increases in the nation behind Sacramento.

Yep, Sacramento. And no, it’s not the cool-factor. But rent could be rising because people are finding jobs in the region, and there are not enough apartments to meet the demand. What’s more, the city’s in no hurry to make space for new-comers. Trulia’s Chief Economist Jed Kolko told us that less than 15 percent of construction in Sacramento is multi-unit buildings compared to San Francisco’s whopping 84 percent.

If you live in San Francisco, you probably don’t need a reminder that you might not make rent (queue the passive-aggressive note from your landlord.) Still, the housing market doesn’t look much better. Owning a home will cost you 11.2 percent more than it did just over a year ago, (compared to the national average of a meager 7.8) and 12.4 more in Oakland. So you can kiss your urban white-picket fence dreams goodbye.


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