Bay Area Rent Continues to Fall But Remains Among Highest in US
Median rent in the Bay Area continued to plummet year over year but also is still the on average the highest in the nation, according to the latest numbers from rental site Zumper.
Monthly rent for a one-bedroom apartment in San Francisco is down to $2,650, a 24% drop from a year ago, Zumper reports. Despite the drop, that amount is still the highest among large cities in the U.S.
A one-bedroom in San Jose fell to $2,180 a month, down about 12% from February 2020 but a 2.3% increase month to month, the report shows. That amount ranks third among big U.S. cities.
Oakland’s rent for a one-bedroom apartment dropped to $2,000 a month, about 16% less than a year ago, Zumper data shows. The East Bay’s largest city ranks fifth among the nation’s biggest cities.
Other Bay Area cities that saw significant year-over-year drops in one-bedroom monthly rent were Sunnyvale, down 32%; Santa Clara, down 29%; Redwood City, down 29%; and Mountain View, down 28%.