Rents in San Francisco reached new highs last month. The median for a one-bedroom apartment on the rental platform Zumper hit $3,720 in June. One reason, a new report suggests, is zoning. According to a paper to be published Thursday by the Brookings Institution and the University of California, Berkeley’s Terner Center for Housing Innovation, the most expensive cities tend to have stricter limits on development. Cities that restrict the height of buildings and the number of units per acre, for example, add fewer apartments. And that pushes rents even higher.
We’re here to help you navigate this changed world and economy.
Our mission at Marketplace is to raise the economic intelligence of the country. It’s a tough task, but it’s never been more important.
In the past year, we’ve seen record unemployment, stimulus bills, and reddit users influencing the stock market. Marketplace helps you understand it all, will fact-based, approachable, and unbiased reporting.
Generous support from listeners and readers is what powers our nonprofit news—and your donation today will help provide this essential service. For just $5/month, you can sustain independent journalism that keeps you and thousands of others informed.