Rent boom across Bay Area

SF 1BR at all-time high $4,180 (+22.9% YoY), 2BR above $6K for first time. Vacancy 2.2% below NYC. East Bay and San Jose also seeing strong rent growth. Student housing crisis intensifies. Rent buyouts surging in SF, now in wealthy neighborhoods (Richmond, Sunset) with $120k payouts, signaling AI-driven displacement pressure even for rent-controlled tenants.