A new study of Bay Area rents shows the cost of freshly out there flats is rising most swiftly in Mountain Watch, Petaluma and Walnut Creek and dropping most considerably in Oakland, Berkeley and South San Francisco.
In its SF Bay Area Metro Report for October, the Zumper condominium rental website claims rents rose by fifteen.6 p.c year-over-year in Mountain View, home to Google as well as other high-paying tech companies. The median lease for the one-bedroom condominium now stands at $3,110 in Mountain See, according to Zumper.
Rents for recently readily available models rose year-over-year by fourteen.seven per cent to $2,180 for a one-bedroom in Petaluma, though rents climbed 12.two per cent to $2,390 for a one-bedroom in Walnut Creek.
From the East Bay, rents dipped twelve.seven p.c year-over-year in Oakland, wherever the median lease for any one-bedroom is currently $1,930, according to Zumper. The report exhibits rents dropping 12.three p.c round the corner in Berkeley (exactly where a one-bedroom goes for $2,five hundred) and 8.8 p.c to the other aspect on the bay in South San Francisco ($2,070 to get a one-bedroom).
Some other highlights of the report:
– Statewide, the median hire for any one-bedroom unit is $1,699, in comparison with the Bay Area-wide median of $2,195.
– San Francisco has the very best rents among the 30 metropolitan areas surveyed; a one-bedroom flat goes for $3,480, up one.8 per cent inside the very last calendar year.
– In Sunnyvale, near Apple’s new “spaceship” campus, rents rose seven.three percent year-over-year; a one-bedroom goes for $2,640.
– San Jose rents rose 9.1 p.c year-over-year to $2,390 for a one-bedroom.
And in this article are the three most cost-effective towns for renters, according into the report: Vallejo, wherever rents fell one.5 % to $1,three hundred for a one-bedroom; Santa Rosa, exactly where rents dropped 3.8 % to $1,520; and Napa, wherever rents had been down 0.6 percent to $1,570.