Anecdotal but my neighbor (in SF) owns an apartment building, and he said he's renting units for ~$100-200 below pre-pandemic level which was $2,995 for a 1-bedroom and $3,995 for a 2-bedroom.
Lol. That's the most I've ever made in a year... before taxes.
I guess it's affordable if you skip eating, healthcare, or other services like cellphone/internet.
Fuck it, might as well be homeless.