San Francisco’s rental market saw something that hasn’t happened in eight months: a decline in prices.
The city’s rents fell by 4.6 percent to $3,500 per month for a one-bedroom in November, down from a peak of $3,670 in October, according to research from Zumper. San Francisco is still the country’s most expensive market based on one-bedroom rents, ahead of New York and Boston.
A new city took the dubious rank of fourth-most expensive city: Oakland, which was the fifth-most expensive city last month. The East Bay’s biggest city is now pricier than San Jose, as one-bedroom rents surged to $2,190, a 19 percent increase over the past year, which is the biggest jump anywhere in the country.
Read more: San Francisco Business Times (blog) Is the bubble popping? San Francisco apartment rents fell in November as …
San Francisco’s rent dipped in November as Oakland surged to the country’s fourth-most expensive. ZUMPER