It seems like after six long years of stagnant rental growth the East Bay has finally got a run up in apartment rents. Driven by the strong tech job market in San Francisco and a flourishing new art and restaurant scene in Oakland, rents are shooting up across Alameda county and specifically in trendy areas of Oakland.
Of the three biggest cities in the Bay Area, Oakland rent increases have toped the charts, most likely due to “spill over” renters who couldn’t afford apartments in San Francisco.
Sarah Bridge, president of RealFacts, feels that apartments in Oakland are still relatively inexpensive compared to apartments in San Francisco. She also keyed in on the fact that Oakland, as an urban core, offers some of the same amenities that San Francisco does. On a relative scale, Oakland rents are still about $800 a month less than San Francisco. (more…)

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