The latest information from rental website Apartmentlist.com shows that,Gulf regionRents have generally declined across counties and cities, with the largest decline in nearly 27 months in August this year. Compared to the same period last year,san francisco-The Oakland-Berkeley metropolitan area declined 4.3% in August this year. South Bay Silicon Valley’s San Jose-Sunnyvale-Santa Clara metropolitan area fell 3.1%. For California as a whole, the decline in August was 2.4%.
The average monthly rent for a one-bedroom apartment in the San Francisco metropolitan area is 1,892 yuan, down 4.3% from last year. The monthly rent burden is reduced by about 81 yuan, which is about the average person’s weekly grocery expenses.
According to the data, monthly rents in the San Francisco metropolitan area have declined for seven consecutive months. Monthly rents in the San Jose metropolitan area have fallen for three consecutive months. Before the COVID-19 pandemic, rents in various parts of the Bay Area were often on the rise. It was not until the outbreak of the pandemic in the spring of 2020 that widespread lockdowns were implemented in various places. As prices rise in the fall of 2021, rents in the Bay Area have begun to rise again.
The following is the August rental situation in each Bay Area county:
Contra Costa County: The average monthly rent in August this year was 2,025 yuan, down 4.9% from the same period last year, and the vacancy rate was 5.5%. A year ago the vacancy rate was 3.9%.
Alameda County: The average monthly rent in August this year was 2,068 yuan, down 4.5% from the same period last year, and the vacancy rate was 6.2%. A year ago the vacancy rate was 5.1%.
San Francisco County: The average monthly rent in August this year was 2,207 yuan, down 4.3% from the same period last year, and the vacancy rate was 5.2%. A year ago the vacancy rate was 5%.
San Mateo County: The average monthly rent in August this year was 2,478 yuan, down 3.6% from a year earlier. The vacancy rate was 5.1%, compared to 4.4% a year earlier.
San Francisco (TagstoTranslate) Bay Area (T) San Francisco (T) Low Income
