Story perspectives
Tech Boom Pushes San Francisco Rents Up 17.1%
10/19/2025
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Story summary
- The AI boom is driving higher San Francisco rents due to demand from tech startups.
- Roy Lee, CEO of Cluely, leased eight luxury apartments near his office, with rents from $3,000 to $12,000.
- Flo Crivello, CEO of Lindy, offers employees a $1,000 monthly rent stipend to live nearby.
- A report shows a 17.1% rise in two-bedroom rents driven by tech hiring and return-to-office mandates, while new housing construction remains low.
