Bay Area Housing Rents Rise Again
Source: siliconbeat.com | Re-Post MNM Partners, LLC 10/5/2017 –
Rents continued to rise across the Bay Area in September, with San Jose, Oakland and San Francisco all registering year-over-year increases, according to a new report.
It offers little relief to hard-pressed renters.
In San Jose, the median cost of rents rose 2.5 percent year-over-year to $2,050 for a one-bedroom apartment and $2,570 for a two-bedroom unit, according to the report by the ApartmentList.com website, which tracks rents nationwide.
In Oakland, rents rose 5.4 percent from a year earlier to $1,780 for a one-bedroom and $2,240 for a two-bedroom, while San Francisco apartments inched up 1.6 percent to $2,450 for a one-bedroom and $3,080 for a two-bedroom.
The report points out that rent increases are more than a regional phenomenon; they’re happening across California. Still, a spot-check of 17 Bay Area cities — where rents already were sky-high — shows continued increases almost everywhere. That means tenants must dig even deeper to get an apartment here.