Where are the DINK couples most populous, and powerful?  According to DINK Life, San Francisco is the best place for dual income, no kids couples, aka DINKs.  Here are the top 3 cities we share honors with.

<!– –>

Unless you’ve had your head in the sand, you know DINKs flock to San Francisco, a city famed for having more dog-raising families than kid-raising ones. So perfect is this fair city that DINK Life headquarters in San Francisco (they’re even writing a book about the DINK lifestyle).

DINK Money and Real Estate

DINKs are so powerful a demographic they got their own acronym sometime in the 1980s; along with that acronym came a flood of targeted marketing and spending-habit studies. No surprise that with a much freer expendable income than their child-rearing brethren, these American adults spend money differently. That includes how they spend it on real estate.

San Francisco DINKs and Dogs

Here in San Francisco where inventory is tight, we have to expect some overlap between parent homebuyers and DINK homebuyers, especially dog owners. Both groups, as homebuyers, will want yards.

But families with children are fast leaving the city, per the Huffington Post: “According to statistics presented to a special hearing of the Board of Supervisors on Thursday, San Francisco has the lowest percentage of children of any major city in the country. Only 13.4 percent of the city’s approximately 800,000 residents are under the age of 18.”

That leaves the yards wide open for DINK buyers, who might compete for something like this, a 3 bedroom, 2 bath condo on California Street. Note the smallish kitchen, sexy bath, and shared yard– all very DINK- listed at $995K.

<!– –>

DINK Demands

Today’s  DINK buyers want to be able to walk to as many essential services as possible. Alex Clark, a Realtor® in San Francisco confirms: “DINKs are definitely different than San Francisco families with kids looking to purchase.  Walkability is important, as is access to recreation.  Big on the list is close access to restaurants, and low on the list are designer kitchens…as they tend to cook less. Parking is less and less of a priority, hence the importance of walkability or the increasingly more popular “bike-ability.”

This demand has real force on the industry.  The George Washington University School of Business reports that walkable neighborhoods have now exceeded suburban ones in terms of demand.  Their study found that for each 6% improvement in a neighborhood’s walkability score, rent prices for office and retail space increase 7%, apartment rents increase 6%, and home sale prices go up $133/ft2. So in a sense, DINKs demanding close-in property help keep the price of said property in this city as expensive as it is—and getting more so.

For example, take this tenancy in common. Formerly thought to be a troublesome type of property to sell or buy (due to fractional financing, which this unit requires), this Castro/Duboce area TIC lists at $899K.

<!– –>

Message to Developers

With no kids and need for less space overall and a strong desire for walk-(or bike)-ability to both work and daily essential services and amenities, DINKs have potential to influence future housing construction. Their priorities—and buying power—encourage small scale homes, closely centered near an already established retail/business area. This preference for a more close-in, clustered style of living has already made its stamp on American real estate. As pointed out in DINK Life’s recent article “DINKs Quickly Becoming the Power Couples of Real Estate,” the performance  of suburban property in this country during the recent recession shows that “as U.S. home values declined from 2008- 2011, areas located far from urban hubs have lost value most dramatically. Areas close-in, however, have either held their value or increased it.”

Confirming this information, The Brookings Institute, in an economic analysis of “walkable” neighborhoods, explains: “This distinction in housing proximity is particularly important since it appears that the United States may be at the beginning of a structural real estate market shift….. a preference for mixed-use, compact, amenity-rich, transit-accessible neighborhoods or walkable places.”

With plenty of all of the above, no wonder San Francisco made the #1 best city for DINKs. Can’t you just see them in this Valencia St. condo, strolling to the bars and restaurants, partying on the roof deck, and generally enjoying child-free fun in the Mission?

<!– –>

The city is rife with DINK-worthy real estate- that we all must agree. All that’s left to debate is what’s the best neighborhood in which to live the DINK lifestyle. So we leave that to DINK readers to decide– the comment section awaits.

Anna Marie Erwert writes from both the renter and new buyer perspective, having (finally) achieved both statuses. She focuses on national real estate trends, specializing in the San Francisco Bay Area and Pacific Northwest. Follow Anna on Twitter: @AnnaMarieErwert

Article source: http://blog.sfgate.com/ontheblock/2012/12/06/sf-top-city-for-dink-couples-rich-in-dink-worthy-real-estate/

Where are the DINK couples most populous, and powerful?  According to DINK Life, San Francisco is the best place for dual income, no kids couples, aka DINKs.  Here are the top 3 cities we share honors with.

<!– –>

Unless you’ve had your head in the sand, you know DINKs flock to San Francisco, a city famed for having more dog-raising families than kid-raising ones. So perfect is this fair city that DINK Life headquarters in San Francisco (they’re even writing a book about the DINK lifestyle).

DINK Money and Real Estate

DINKs are so powerful a demographic they got their own acronym sometime in the 1980s; along with that acronym came a flood of targeted marketing and spending-habit studies. No surprise that with a much freer expendable income than their child-rearing brethren, these American adults spend money differently. That includes how they spend it on real estate.

San Francisco DINKs and Dogs

Here in San Francisco where inventory is tight, we have to expect some overlap between parent homebuyers and DINK homebuyers, especially dog owners. Both groups, as homebuyers, will want yards.

But families with children are fast leaving the city, per the Huffington Post: “According to statistics presented to a special hearing of the Board of Supervisors on Thursday, San Francisco has the lowest percentage of children of any major city in the country. Only 13.4 percent of the city’s approximately 800,000 residents are under the age of 18.”

That leaves the yards wide open for DINK buyers, who might compete for something like this, a 3 bedroom, 2 bath condo on California Street. Note the smallish kitchen, sexy bath, and shared yard– all very DINK- listed at $995K.

<!– –>

DINK Demands

Today’s  DINK buyers want to be able to walk to as many essential services as possible. Alex Clark, a Realtor® in San Francisco confirms: “DINKs are definitely different than San Francisco families with kids looking to purchase.  Walkability is important, as is access to recreation.  Big on the list is close access to restaurants, and low on the list are designer kitchens…as they tend to cook less. Parking is less and less of a priority, hence the importance of walkability or the increasingly more popular “bike-ability.”

This demand has real force on the industry.  The George Washington University School of Business reports that walkable neighborhoods have now exceeded suburban ones in terms of demand.  Their study found that for each 6% improvement in a neighborhood’s walkability score, rent prices for office and retail space increase 7%, apartment rents increase 6%, and home sale prices go up $133/ft2. So in a sense, DINKs demanding close-in property help keep the price of said property in this city as expensive as it is—and getting more so.

For example, take this tenancy in common. Formerly thought to be a troublesome type of property to sell or buy (due to fractional financing, which this unit requires), this Castro/Duboce area TIC lists at $899K.

<!– –>

Message to Developers

With no kids and need for less space overall and a strong desire for walk-(or bike)-ability to both work and daily essential services and amenities, DINKs have potential to influence future housing construction. Their priorities—and buying power—encourage small scale homes, closely centered near an already established retail/business area. This preference for a more close-in, clustered style of living has already made its stamp on American real estate. As pointed out in DINK Life’s recent article “DINKs Quickly Becoming the Power Couples of Real Estate,” the performance  of suburban property in this country during the recent recession shows that “as U.S. home values declined from 2008- 2011, areas located far from urban hubs have lost value most dramatically. Areas close-in, however, have either held their value or increased it.”

Confirming this information, The Brookings Institute, in an economic analysis of “walkable” neighborhoods, explains: “This distinction in housing proximity is particularly important since it appears that the United States may be at the beginning of a structural real estate market shift….. a preference for mixed-use, compact, amenity-rich, transit-accessible neighborhoods or walkable places.”

With plenty of all of the above, no wonder San Francisco made the #1 best city for DINKs. Can’t you just see them in this Valencia St. condo, strolling to the bars and restaurants, partying on the roof deck, and generally enjoying child-free fun in the Mission?

<!– –>

The city is rife with DINK-worthy real estate- that we all must agree. All that’s left to debate is what’s the best neighborhood in which to live the DINK lifestyle. So we leave that to DINK readers to decide– the comment section awaits.

Anna Marie Erwert writes from both the renter and new buyer perspective, having (finally) achieved both statuses. She focuses on national real estate trends, specializing in the San Francisco Bay Area and Pacific Northwest. Follow Anna on Twitter: @AnnaMarieErwert

Article source: http://blog.sfgate.com/ontheblock/2012/12/06/sf-top-city-for-dink-couples-rich-in-dink-worthy-real-estate/

Last week, On the Block’s  Jenny Pisillo asked if it isn’t cheaper these days to buy in the Bay Area than rent. Today, we revisit the topic. More proof that the rental market in SF is crazy? Trulia’s Rent Monitor report offers plenty.

First, a smattering of available rentals in popular SF neighborhoods.

Lower Pac Heights

How about this: a 1 bed, 1 bath apartment on Gough in the lower Pac Heights area for $3,100 a month? Wait: isn’t that the price for the actual Pac Heights, like where Danielle Steel lives? Yes, this unit allows pets and yes, boasts not 1 but 2 walk-in closets you could potentially house roommates in; but still: $3,100 a month for a one bedroom is steep.

<!– –>

SoMa

The SoMa is all the rage now, thanks to tech boom 2.0, aided also by Twitter setting up camp in a less than savory South of Market area in exchange for a tax break. Suddenly the ‘loin is looking more tender and folks are shelling out what used to be Upper-Fillmore prices for anything near the “Multimedia Gulch.”

Example? Here’s a 2 bed, 2 bath 1,200 square foot loft on Sumner. Price: $3,800 a month.

<!– –>

South Beach

Remember the days when South Beach was little more than industrial buildings and tumbleweeds? Now South Beach is hailed as “up and coming,” though by the looks of this listing, it has fully arrived. Here we have a 2 bed, 2 bath condo on Main Street for $6,800 a month.

<!– –>

Russian Hill

The stately neighborhood only gets more so, it seems.  Rents here, always dear, have now reached rather astounding levels, such as evidenced by this 3 bed, 2 bath single-family home (address undisclosed but there’s a Van Ness address listed on one of the photos in the listing linked here) for $11,000 per month.

<!– –>

If these rents seem (still, again, once more!) higher than ever, that’s because they are, according to Trulia’s study, The Trulia Price Monitor and the Trulia Rent Monitor adjust for the changing mix of listed homes to accurately describe and predict rents. Says Trulia: “Because asking prices lead sales prices by approximately two or more months, the Monitors reveal trends before other price indexes do.”

Highlights from the report

In August, asking prices rose 2.3% year over year, the largest annual jump reported yet by the Trulia Price Monitor and the largest year-over-year increases since before the recession. Excluding foreclosures, asking prices rose nationally 3.8% year over year. The month-over-month increase of 0.8% was the seventh consecutive monthly increase.

Among the largest 25 rental markets, rents rose the most in Houston andSeattle, where they climbed more than 10% year over year in August. Rents are no longer rising so quickly in Denver, San Francisco, Miami, Oakland and Boston, but that may not be much comfot: these hot rental markets are still seeing annual rent increases of 8% or more.

SF’s most popular ‘nabes

In a city with such an uber-popular rental market, which neighborhoods get the most attention? Trulia tracks the most searched for neighborhoods on its site, and here they are.

Can the madness continue?

What do you say, readers? The holidays and general real estate slow down are coming. Are lower rents– or at least an end to higher ones– coming too?

Anna Marie Erwert writes from both the renter and new buyer perspective, having (finally) achieved both statuses. She focuses on national real estate trends, specializing in the San Francisco Bay Area and Pacific Northwest. Follow Anna on Twitter: @AnnaMarieErwert

Article source: http://blog.sfgate.com/ontheblock/2012/09/27/sfs-most-popular-neighborhoods-fetch-dear-rent-indeed/