[malyk]

Rent for my loft at 11th and Folsom was raised in 2012 to $2650. My wife and I moved across the bay to Oakland and now pay $2725 a month all for a house. The loft was then rented for $3300 after we moved out.

1000 sqft loft: $3300 1150 sqft house w/ 40x50 yard and 1 car garage: $2725

But, that isn't in san francisco, but it is within a similar commute distance.

[winterchil]

This totally explains why everyone is moving to Oakland but, as you say, not a fair comparison.

Out of curiosity, how much would you estimate it costs to buy the house? Some quick math will let us figure out the rent vs. buy for your neighborhood.

[malyk]

Yeah, that's the kicker for buying. You have to have something for a down payment.

My place was $470k and we paid about $72k in closing costs. Our loan is 3.625% for $417k.

You can still find nice places at that price point, but rates have gone up. So that's another reason why it isn't a fair comparison. But it's an option, and it isn't far away like other east bay places. And like I said, commute times are similar (35 minutes for me).

[winterchil]

Sounds like you got in at just the right time, congratulations!