Quote:
Originally Posted by Chisouthside
Even with apartment units being available, alot of workers in Silicon Valley would rather rent a room in a 3 bedroom SFH than a room in a 3 bedroom apartment. Especially transplants from the midwest and east coast that want to take advantage of the year round nice weather  |
If more development is allowed, the choice would not be between renting a room in an apartment or a room in a SFH. The actual construction cost, even with California regulations and taxes, is probably around $1,500 per month for a 1br, the rest ~50% of rent cost is just NIMBY premium due to restrictive zoning.