SAN FRAN SHOCKER: Rent Now 30% HIGHER than NYC, DOUBLE Miami, One Bedroom at $3,690

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San Francisco residents are fleeing the region over the city’s ballooning housing costs and massive taxes, with a new report showing the Bay Area is now the most expensive municipality for renters in the United States.

“If you thought rent in San Francisco couldn’t get any higher — you were very wrong,” reports KRON Channel 4. “Apparently San Francisco rent has reached a new peak of $3,690, according to home and apartment rental app Zumper.”

“The survey also found that while rent increased greatly in San Francisco, the median price of one-bedroom apartments everywhere else in the US apparently dropped nearly half a percent during the same time,” adds the study.

The massive figure is a stunning 30% higher than rent prices in New York City and ‘double’ the price of a one-bedroom apartment in Miami, Florida.

Read the full report here.