Bay Area rent prices continue to creep back up

Real Estate

San Francisco – California, Urban Skyline, Street, City, USA. Salesforce Tower on the background.

SAN FRANCISCO, Calif. (KRON) – After 18 months since the COVID-19 outbreak, New York booted San Francisco out of the way for most expensive one-bedroom with New York at $2,810 and San Francisco at $2,800.

It’s hard to believe considering in early 2019, it cost $800 more to live in a San Francisco one-bedroom than it did in New York.

While rent in San Francisco is not nearly what it used to be, prices have been creeping back up.

Zumper

In a Bay Area-focused report from Zumper, San Francisco ranked as the most expensive city with one-bedrooms up 2.9% since last month.

Zumper

Mountain View ranked the second most expensive one-bedroom, rising 5.5% since last month to $2,500.

Emeryville followed closely behind, with 1-bedroom rents rising 5.2% to $2,430. If you’re looking for the most affordable city in the Bay Area, Concord ranked first with one-bedrooms priced at $1,810.

As rents continue to creep back up, the question remains: Will rents in San Francisco ever make it back to what they were before the pandemic?

The Delta variant of COVID-19 has delayed office reopening’s once again, so several companies are still remote and have yet to reopen offices.

If that changes, it could bring people back to the Bay Area altering the market. Only time will tell.

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