Rents are dropping in big cities — and especially in San Francisco — as coronavirus layoffs take hold

San Francisco.
(Image credit: JOSH EDELSON/AFP via Getty Images)

For the first time in four years, it's actually getting cheaper to find an apartment in San Francisco.

Layoffs have hit every corner of the U.S. during the COVID-19 pandemic, San Francisco's tech market included. Meanwhile, many companies that haven't had mass layoffs have considered expanding remote options once the pandemic ends, or moving some of their operations to smaller cities. Altogether, it's leading to an exodus from San Francisco that has driven vacancies up and rent prices down, The Wall Street Journal reports.

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Kathryn Krawczyk

Kathryn is a graduate of Syracuse University, with degrees in magazine journalism and information technology, along with hours to earn another degree after working at SU's independent paper The Daily Orange. She's currently recovering from a horse addiction while living in New York City, and likes to share her extremely dry sense of humor on Twitter.