San Francisco Apartment Has a Steep Requirement

Renters must make at least $432K a year
By John Johnson,  Newser Staff
Posted Apr 5, 2022 12:13 PM CDT
Apartment for Rent, Provided You Make $432K
Stock photo.   (Getty/BrianAJackson)

(Newser) – It's not just expensive to own a home in San Francisco, it's expensive to rent. As in, it's the most expensive city in the nation to do so, as the San Francisco Chronicle has reported. The average monthly price for a one-bedroom place clocked in at $2,720 last summer, meaning that exorbitant prices for bigger, luxe apartments aren't unusual. A new one on Craigslist, however, caught the attention of SFGate for a remarkable reason: Prospective tenants must earn at least $432,000 to be in the running.

To be clear, it's a nice place: a two-bed, 2.5-bath penthouse in the Mission Bay district with plenty of nice touches (see the listing). Rent is $12,000 a month. And under "requirements" for future renters is the stipulation that they make three times the annual rent. Thus, the $432,000 total. As Andrew Chamings of SFGate points out, requiring people to pull in three times the yearly rent isn't all that unusual in the city. But "in this instance that calculates out as showing receipts for nearly half a million bucks a year, making one wonder whether the price tag is a little steep for a two-bed apartment." (Read more San Francisco stories.)

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