San Francisco isn’t going anywhere

“The city is full of that — opportunities that you may never have expected would come your way...”

Photo by Jake Bowman

I’m an advocate for all the incredible startup happenings in Atlanta, but San Francisco losing status as “the hub” for tech post-Covis has been wildly overstated.

People want to be in San Francisco.

In the bayside ZIP code surrounding the San Francisco Giants’ Oracle Park, where nearly 15 percent of residents worked in tech, average monthly rental prices dropped from $3,956 in February 2020 to about $3,000 a year later. They rose to $3,312 in May, according to Zillow data.

People want to live for a while in San Francisco.

Median San Francisco home prices, which bottomed out at a still-jarring $1.58 million for a single-family home in December, recently hit $1.9 million, according to the California Association of Realtors. That’s higher than before the pandemic.

People aren’t leaving for Austin or Miami in droves.

…CBRE’s research found that Austin was the 13th-most-popular destination for people leaving San Francisco. Miami was 22nd.

People want to work from not-home.

About 45 percent of employees at Twitter said they wanted to return to the office at least part time…