[maxgallery name=”trulia-parking-metered-parking”]The city of San Francisco is known for many things, a bustling tech industry, diverse neighborhoods, and a delicious variety of restaurants. Unfortunately, the “City by the Bay’s” booming tech industry is growing more quickly than the city can create housing opportunities, thus leading to one of the most expensive and competitive real estate markets in the United States. Now, more people than ever are choosing to rent, rather than to buy. Although the cost of a lease is still expensive, chances are, most monthly payments will be less than the cost of a mortgage on a Bay Area home. At those prices, amenities, especially parking, are at a premium.
So where can you score a rental with access to private parking in San Francisco? Which neighborhoods are you most likely to find street parking in San Francisco? Trulia economists recently conducted a study, “Best and Worst Places for Renters to Park in the Big City,” to answer those very questions. Teaming up with Parknav, Trulia looked at neighborhoods in the densest and most crowded U.S. Cities. Surveying available street parking during peak midday and weekend times, the Trulia team created a street parking score. Then economists sifted through all the homes for rent on Trulia to find the areas where renters have the best chance of acquiring a private parking spot or garage as part of their property, as well as, that property’s proximity to available street parking.[maxgallery id=”21968″]In San Francisco, the best neighborhoods for finding a rental with dedicated parking are Presidio, Merced Manor and Ingleside Heights. Presidio ranks first with a parking score of 35 out of 100, (where 100 means parking is easy), and 63 percent of rentals listed as having parking. Merced Manor ranks second with a score of 37 out of 100, and 60 percent of rentals listed as having parking, and Ingleside Heights ranks third with a parking score of 22 and 50 percent of rentals listed as having parking. These areas are highly residential, with easy access to parks and amenities. Most rentals, are large, expensive family homes. So, in many ways, you are still paying a premium for parking.
SoMa, The Financial District and South Beach are some of San Francisco’s busiest urban hubs. Home to major companies like Pinterest, Linkedin, Salesforce, (the primary tenant of Salesforce Tower, the building that will become the tallest skyscraper in the city upon its completion in early 2017), and the west coast offices of six Fortune 500 companies. For that reason, it should come as no surprise that street parking is difficult, if not impossible to find. All three areas have the same parking score, 20 out of 100. However, the percentage of rentals listed as having parking varies across all three. SoMa is at the top of the list of worst San Francisco neighborhoods for street parking with only 25 percent of rentals listed as having parking. South Beach follows closely behind with 37 percent of rentals are listed as having parking, then the Financial District with 24 percent of rentals listed as having parking.
[maxgallery name=”trulia-street-parking-map”]San Francisco’s steadily rising cost of living has made finding an affordable place to live a difficult task. If you have a car, and are looking to rent in the city, be sure to consider the added premium of paying to park, especially in areas with limited to no parking availability.