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Rental Prices vs Sales / NYC & SF

Started by tpushbklyn
about 16 years ago
Posts: 137
Member since: Mar 2009
Discussion about
Taking note of discrepancy between dropping rental prices and stagnant sales prices. Am most familiar with San Francisco home market, and wondering if anyone can offer an accurate comparison between the sale/rental price shift gap on opposite coasts. (SF vs Manhattan/Brooklyn)
Response by jason10006
about 16 years ago
Posts: 5257
Member since: Jan 2009

The price to rent ratio was usually higher in the bubble years in the SF area versus NYC. It was odd. I was from SF too. SF proper was much cheaper to rent versus Manhattan, whereas buying was much closer in price.

That was largely a function of faster price appreciation in the hot CA markets.

Nowadays I don't know, but in NYC I found it normal for comparible apartments to rent for about 4% per year of the purchase price - more a funtion of the asking price for purchase being too high then the rent being too low.

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