Eventually writing one of these posts is going to jinx the entire rental market. However, here we are, for the third month in a row, passing along the bittersweet news that the Bay Area remains the most expensive rental market in the country, but rents continue to decline. So, hooray? ¯\_(ツ)_/¯

 

Iron Man Elevator SceneIron Man Cartoon
According to AprtmentList.com, Oakland is at the front of the pack dropping 1.8 percent month over month and 2.3 percent year over year.

San Francisco rents decreased 0.8 percent in March. Prices in the city overall are now *drum roll* 1 percent lower than a year ago. Wait, don’t put on your party hats yet!

Party Hat Cats

Landlords continue to be ridiculous. The median rent in San Francisco for a one-bedroom is still $3450 and a two-bedroom is $4560. Let’s at the least wait until New York City takes back the rightful spot on top of the list before we celebrate.

And, sadly for our New Yorker friends, they’re moving in that direction with a 0.8 percent rent increase over the last year.

National Rental Trends March 2017ApartmentList
For a long timeBay Area was leading the rental trend in the state of California, but now we’re bucking it. Statewide the median increased by 3.7 percent. Part of the statewide increase is due to Los Angeles.  Year over year Angelenos paid 3.8 percent more for rent with the median two-bedroom price growing to $2800 per month.

March 2017 RentApartmentList
Read the full report at AprtmentList.com.

[Featured Image by Jessica Spengler via Flickr]


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