San Francisco Housing Market: Finding a Niche

San-Francisco-affordable-housingHousing is not cheap in San Francisco. In fact, according to a study recorded by Business Insider earlier this year, you get the least amount of square feet for your dollar in San Francisco as compared to all other major states. And this is significant. For a million dollars for example, in San Francisco, you’ll get 1502. The next number is Boston which comes in at 2092 and then the figures rise more steadily with Washington being 2198, New York at 2358, Los Angeles at 2375, etc. Move to Detroit however and you’ll be able to get a large place for a million, measuring at 8,3333 square feet

So what are San Franciscans meant to do exactly? One option is to downsize.   And in a recent article in Curbed San Francisco, there is a list of the ten smallest homes in the region. The smallest one on offer is being sold by Cubix. Measuring at 282 square foot, the asking price is $395k. Featuring an environmentally-friendly elevator with secure entry and located right next to a Whole Foods Market by the Yerba Buena Arts District, this studio home could be a great option for a single person. With its Murphy beds and clever design, it doesn’t even look that small.

Old timers have been having a rough trot in the bay area. Diego Deleo is just one example. Having lived at his North Beach apartment for 27 years, he’s now being evicted thanks to the Ellis Act. A senior who is among a small group of what’s left of rent-controlled homes, these properties are now being used to bring in buyers with more cash. It’s unfortunate, especially because this law was only enacted to be put in a place as a last resort, but increasingly, property owners are using it to their advantage.

Perhaps small is the way to go for Deleo and others like him, should they want to remain in the area.

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