Report: Bay Area Rents Rise, but Slowly

rent-price-increase

A survey of Bay Area apartment prices shows that rent increases have slowed.

The average Bay Area rent price of $2,006 per month for all types of units was up 2.6 percent from the second quarter, but a lot less than the 5.2 percent jump seen in the first half of year.

The annual growth was 9.2 percent, according to the RealFacts report.

The average asking price in the Bay Area for a one-bedroom, one-bathroom apartment was $1,804 per month.  Bay Area renters will find the best offers in the East Bay.  Alameda County’s monthly average price for a one-bed, one-bath unit was $1,599. Contra Costa County’s average asking price is the lowest in the Bay Area at $1,367.

And, it shouldn’t surprise too many renters to learn that the Silicon Valley tops the list of prices in the Bay Area.  For a one-bed, one bath apartment, the average price in Santa Clara County was $1,919 while San Mateo County’s average asking price was $2,095.

The RealFacts report will be released on Thursday.

Information from: RealFacts.com.

 

(Copyright 2013, KRON 4, All rights reserved.)

 

 

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