Lo and behold, there is one place left in San Francisco where home values are under $1 million dollars.
There was a time when San Francisco was a haven for artists, and home values were high, but still affordable. In recent years, tech companies have changed the face of real estate in San Francisco, and now in some instances, the urban area is even more expensive than New York. As it stands now, there are only a few neighborhoods in San Francisco where you can buy a home for under a million dollars. This may sound like blasphemy to most middle class people, but that is the way things go with the market.
Ingleside isn’t the most desirable place in the San Francisco Bay area, and it isn’t centrally located, (a 40 minute muni ride from downtown). It is however, a working-class area that is a bit rough around the edges. Of all the homes sold in San Francisco since July 2016, only 20% of them (593) sold for under a million dollars. Of those 593 sales, 83 were in the Ingleside neighborhood.
Home prices in Ingleside have jumped by 9% in the past year, and currently hover around the $1 million mark. As with any other neighborhood in a desirable metropolitan center, there is lots of development, from rental condos priced at $2800 a month, to Whole Foods, and other large chains that have moved in recent years. Ingleside is changing pretty quickly, but it remains one of the only places in San Francisco where you can get a one bedroom for around $700K.
So if you are thinking of moving to San Fran and have a bit of a budget constraint, you should check out Ingleside immediately, before it gets swept up into the fray like so many other bay area neighborhoods.