San Francisco Mayor Daniel Lurie declared a rental emergency Thursday, proposing reforms aimed at curbing evictions and avoiding rent spikes as the city grapples with rising apartment prices. The Bay Area city, home to a large number of high-income tech workers, has long been one of the most expensive housing and rental markets in the country. The median rent for a one-bedroom apartment in San Francisco is currently $4,495, according to Zumper, a rental listings site. By comparison, the national average for a one-bedroom apartment is $1,900. Rising rental costs have been attributed to a recent influx of wealth into the market, as artificial intelligence companies went public. While demand for limited housing options has increased, San Francisco has lagged noticeably behind other cities in approving new housing. Among Lurie’s proposed measures are caps on rent increases for rent-controlled apartments, $27 million in funding to cover funding gaps in expiring federal housing vouchers and an increase in payments to tenants who are evicted under the Ellis Act, legislation that landlords can invoke when getting out of the rental business. “Today, most San Franciscans feel our city is finally moving in the right direction, but many also wonder if they can still afford to live here,” Lurie said in a statement Thursday. “We’ve experienced booms before; “This time, we have the opportunity to build a recovery that is broad and lasting, where San Franciscans can put down roots and participate in the success of our city.”
