Justin Sullivan state California San Francisco city San Francisco, state California 2020 Coronavirus Justin Sullivan state California San Francisco city San Francisco, state California

San Francisco rent plunges 35% as tech giants flee area

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A pedestrian walks by a building advertising an apartment for rent on September 01, 2020 in San Francisco, California.(Photo by Justin Sullivan/Getty Images) SAN FRANCISCO - New data following 10 months of the coronavirus pandemic shows rents continuing to fall in tech hubs around the nation, and San Francisco is still leading the way.

Remote work and high cost of living are a few of the mentions for why an astronomically expensive city is becoming more reasonable, according to a November rent report by realtor.com.

It compared current rent prices to rates from the same time last year and found the median rent for a studio apartment in San Francisco has dropped 35 percent to $2,100 a month.

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