San Francisco’s rental market is insane.
The median monthly rent for a one-bedroom apartment in the city is $3,600, according to tracking firm Zillow.com. Median rents for a three-bedroom apartment run about $4,600.
What if those rents were mortgage payments in the Sacramento region?
A mortgage payment between $3,600 and $4,600 could buy a home selling for $700,000 to $1 million, assuming a 30-year loan with a 20 percent down payment. And a million bucks buys a lot of house in Sacramento.
Here’s a look at what you could buy in Sacramento with a monthly mortgage and tax payment between $3,600 and $4,600.
For the price of renting a SF one-bedroom, you could have:
A six-bedroom solar house in Rockin. “This luxurious and immaculate 6 bed / 5. 5 bath home features a 32 panel solar system that nearly zeros-out the electric bill, hickory plank wood floors, and stunning entry. The kitchen offers beautiful granite countertops, high end appliances including Wolf 6-burner cooktop, oven w/convection, wine fridge, microwave and refrigerator.” Price: $759,000 | Monthly Mortgage & Taxes: $3,700.
A 3,800sf house in Woodland. “Lovely custom home in quiet cul-de-sac in Faria Park. Four bedrooms, 3 full baths, over 1/3 acre lot. Pool w/waterfall, park like backyard. Solar owned, master bedroom has balcony. Separate office downstairs with desk and built-ins. Three car garage with extra storage.” Price: $799,000 | Monthly Mortgage & Taxes: $3,900.
A cute tudor near downtown. “Located in desirable East Sacramento, this Storybook Tudor is waiting for you. Thoughtfully remodeled to preserve its architectural integrity, you’ll enjoy the 2175 sq. ft. of living space. This home features 3 bedrooms, 2 baths, large living room, den and a master retreat! Pride of ownership shows throughout this beautiful home!” Price: $799,000 | Monthly Mortgage & Taxes: $3,900.
For the price of renting a SF two-bedroom, you could have:
A five-bedroom with three fireplaces in Elk Grove. “Beautiful custom home in the prestigious Waterman Meadows! One of the largest lots in the tract and directly across the street from Jack Hill Park make this a rare opportunity. Excellent views of Park and open space from all front windows of home. Open floor plan that boasts almost 4000 sq ft make this a home ideal for entertaining. 3 gas fireplaces including one in the master retreat area.” Price: $869,000 | Monthly Mortgage & Taxes: $4,200.
A 4,700sf home with six bedrooms in Orangevale. “An amazing two-story custom home. This 6-bedroom 4-bathroom home has 4,667 square feet and sits on an acre of prime Orangevale property. In addition to its high-pitched roof and gorgeous circular driveway, this home features 9' and 10' ceilings, a spacious kitchen with granite counter tops.” Price: $825,000 | Monthly Mortgage & Taxes: $4,000
A five bedroom Victorian with two ovens, spa and gazebo in El Dorado Hills. “A stunning victorian with spectacular sunset views near Folsom Lake. This custom 5/4 home features a $75k Home theater, Solid cherry wood cabinets, 5 burner gas range, copper range hood, 2 ovens & Subzero Refrigerator, downstairs office, upstairs laundry, gated courtyard, RV access, outdoor kitchen & dining, all on a gorgeous 1/2 acre lot.” Price: $899,000 | Monthly Mortgage & Taxes: $4,300
For the price of renting a SF three-bedroom, you could have:
A brand new, fully furnished, 3000sf home in Curtis Park. “The Curtis Park Village Estates are among the most luxurious and inviting new developments Sacramento has seen. This Mission Revival model home is being sold fully furnished with countless upgrades and style that goes on and on. This model home is being sold fully completed and staged.” Price: $934,000 | Monthly Mortgage & Taxes: $4,500.
A home on two acres with a six-car garage in rural Elk Grove. “VERY Desirable Sheldon Estates Property. Entertainers Delight inside and out. Sitting on almost 2 acres you could not ask for more! Property is meticulously maintained by owners. Beautiful kitchen with family room & elegant fireplace. Formal living room and dining room. Stunning Master Suite.” Price: $999,000 | Monthly Mortgage & Taxes: $4,800.