San Francisco apartment rent prices are dropping fast as tech companies embrace remote work and unemployment rises

San Francisco apartment rents are dropping fast as tech companies embrace remote work

could continue to do so permanently. As many tech workers in San Francisco mull their newfound geographic freedom, Georgiades says, the city's real estate market is rapidly changing.

He also attributes the shifts in the U.S. rental market to "pandemic pricing," adding "unprecedented number of Americans are unemployed and landlords are having to adjust to this in their rent renewals or vacancy price asks." "The jump in inventory in San Francisco may indicate less desire for homes in the expensive urban center as buyers envision a permanent shift towards remote work and seek out larger homes and affordability further from the city," says Bokhari.

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