While the going price for a new studio apartment in San Francisco is averaging over $2,300 a month, and NEMA’s model unit would rent for closer to $2,500, twenty-two of the brand new studios in the luxury building at the corner of Market and Tenth will be rented for $939 a month and sixteen one-bedrooms will be rented for $1,066.
So what’s the catch? As part of the Mayor’s Office of Housing and Community Development Below Market Rate (BMR) Rental Program, applicants for the 38 BMR units cannot make more than 55 percent of the area median income, which means a single person can make no more than $38,950 a year, a couple can make no more than $44,500.
Other restrictions for the 38 below market rate mid-market units include a credit score of at least 600; no record of a previous eviction for the applicants; and the ability to pass a federal background check. And while the maximum income for a single person is $38,950 a year, the minimum income is $28,170.
Applications are due by 5pm on August 30, 2013. Pass it along.
Average Rent For A Studio In San Francisco: Over $2,300 A Month [SocketSite]
Your First Real Peek Inside NEMA At Market And Tenth [SocketSite]
NEMA (18 10th Street) Below Market Rate Apartment Program []

19 thoughts on “38 Brand New Apartments In San Francisco Renting For A Grand!”
  1. The pricing seems out of whack. The 1BR is nearly double the size of the studio yet only costs ~15% more.

  2. So true, MOD The same with cars! For instance, how is it that a 2 door is almost the same price as a four door!? Sometimes, my dreary deluded didactic brain just can’t wrap itself around how supply & demand works. Which means they’re wrong — cause of course I’m always right.

  3. I’m not understanding your car analogy ECOOCD. Two and four door versions of the same model car are usually the same size.

  4. From a practical live in perspective why do you suppose the front door of the one bedroom unit is far to left while if it were to open on the right near the kitchen there would be room for a much needed closet at the end of the hallway.

  5. Navigator i would prefer the door in its current place; you get a grander foyer and can access your shoes and coats without having to walk behind the door, which i feel there’s something inconvenient / uncomfortable about.

  6. Navigator,
    I would guess that the door location has something to do with the entry to the next unit on that hall. That door is probably near another door and pushing it back would shrink the other living? room. I am sure if we saw the entire floor plan it would make sense.

  7. Even tho diff size, they both have one toilet, one front door, one kitchen… in terms of the expensive stuff to fix, they are equal. Also some in terms of overhead (i.e. effort to manage the lease). There needs to be some upcharge for the extra real-estate, but it’s not direclty proportional to square footage.

  8. Navigator,
    If the entry door was closer to the in-line kitchen cabinets, you might have conflicts between casework and oven doors and the door swing of the entry door.
    As in – Your friend charging in from a beer run just batted the hot oven door you had just opened (to pull out the pizza) into the living room.

  9. The thickened wall area adjacent to the kitchen is most likely structural and mechanical elements, precluding any openings/doors in that area. That’s why the door is moved down to create a hall into the one br unit.

  10. Steve – I don’t expect rent to be exactly proportional to size either. But here we have two units renting for almost the same amount but one is 2X larger. It is a no brainer to choose the 1BR over the studio, especially since the unit depicted seems to be a corner unit.
    If these were $950 and $1400 then the pricing would seem right.

  11. The door placement is most likely all the way to the left because the unit shown above is a corner unit,which means the front door is at the end or at the corner of the common area hallway.

  12. Hey, Thanks everyone for the many reasons why the door is correctly aligned. I was just hoping for the possibility of a bit more closet space.

  13. Wow, so you need to make a narrow range of incomes and get thrown into a lottery for cheap housing?
    Cool, let’s scale this and make SF a bit less affordable for everyone else 😉

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