.According to the Zillow Rental Index, the new median rent in San Francisco is $4,225 a month.
The index shows rents up 16% year-over-year through April.
The Greater Silicon Valley Corridor, in fact, shows a rental market on fire. Increased rents in Oakland (up 21.6% YOY); Berkeley (up 30.9% YOY); Emeryville (up 29.5 YOY); San Jose (up 14% YOY) and Daly City (up 201.1% YOY) make the San Francisco Metropolitan region the fastest growing rental market in the USA.
-RW
Don't forget to give the SF central planners their due!
ReplyDelete"the new median rent in San Francisco is $4,225 a month."
ReplyDeleteThat's just insane. A person would have to make north of $50,000 a year just to pay for the rent alone!
And they're building new apartments and town homes at a furious pace. I know, because I live in the midst of it. Every patch of dirt is being converted to new units.
ReplyDeleteWhen the newest real estate bubble pops just as all this new supply comes onto the market, we're going to see rental rates plunge.