Bay Area rent is rebounding to higher rates

Bay Area

SAN FRANCISCO (KRON) — Rent rates in San Francisco increased by 3.8% month over month compared to 2.3% nationally.

This puts the city in 10th place for the most increased rent prices among the nation’s 100 largest cities.

But during the pandemic San Francisco was set as number one for the biggest decline in rent.

Oakland was the second-largest city to see rents get cheaper in the U.S – all according to Apartment List.

In spring 2020, rent prices fell as Americans sheltered in place. In December, rent started to bounce back each month into 2021.

In the Bay Area, a lot of people work for tech companies that continued to allow their employees to work from home. This had people packing up and moving from the bay to other states and cities.

But now rent prices are rebounding pretty solidly in the Bay Area.

Oakland rent is up by 1.6% with one-bedrooms costing on average $1,670 a month.

Rent in places like Fremont and Pleasanton went up by two percent.

The median rent prices in San Francisco currently stand at $2,256 for a one-bedroom and $2,610 for a two-bedroom.

Copyright 2021 Nexstar Media Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

Trending Stories

Latest News

More News