Is It Cheaper to Live in Oakland Than San Francisco?
When moving to the Bay area, you’re faced with a big question: Should I live in San Francisco or Oakland? It’s no secret San Francisco is one of the most expensive cities to live in—but does that same hold true for its sister across the Bay?
According to ABODO’s Annual Rent Report, Oakland is cheaper and will predictably be so in 2017. Oakland takes the sixth spot on the list while San Francisco is the first. Oakland is not nearly as affordable as it once was, but a dollar goes further there than in San Francisco.
Via Annual Rent Report
How It All Stacks Up
When looking at these rent numbers, keep in mind that sites like ABODO are mostly made up of new, non-rent controlled units. The actual median rent is much lower when you factor in older stock.
The good news is that rent decreased in both San Francisco and Oakland in 2016, according to ABODO. Oakland had the biggest average monthly drop in 2016 rent. This is a huge sigh of relief compared to the ever increasing numbers since 2010. So, yes, there’s light at the end of the tunnel and rent prices appear to be decreasing.
Although it may be somewhat cheaper to live in Oakland—by rent standards—it’s worth noting that working in San Francisco, and living in Oakland, can have some additional costs. Consider your commute time and mode of transportation when deciding if you’re going to live in Oakland or San Francisco. The cost may be the tipping point for some to suck it up and pay a higher rent in San Francisco.
Now that you’re living in tech-hub of the world, and one of the most expensive cities, you’re bound to become involved in countless discussions around the cause of these sky-high prices. Most people will blame the “techies.” Reading up on this issue, and possible solutions, will be helpful to have educated conversations. Getting involved with a local organization could be a nice way to learn more, and make new friends.
Oakland rent is cheaper than San Francisco rent, but there’s still a myriad of factors to consider when deciding where to live. Our best advice is to be really honest about your finances, commute time, and talk to friends who have lived in both cities. Both Oakland and San Francisco have great things to offer, it really depends on what you prefer.