San Francisco mayor declares rent emergency as housing costs soar amid AI boom

Median rent for one-bedroom apartment in city tops $4,495 with a national median of $1,900

San Francisco's mayor, Daniel Lurie, declared a rent emergency on Thursday, proposing reforms aimed at curbing evictions and preventing rent spikes as the city grapples with soaring apartment prices.

The Bay Area city, home to a large number of high-earning tech workers, has long been one of the most expensive housing and rental markets in the country.