You might be interested in the Oakland rental market if you're renting in Oakland.
In 2014, the Oakland rental market is primarily driven by the San Francisco rental market. As part of large changes that are happening across the Bay Area, SF rental prices are insane, and as people move to Oakland, Oakland rental prices also increase. Oakland rental prices are also affected by the fact that we are still in a foreclosure crisis. When people lose their homes, they become renters. In some instances, homes that used to be owned by families and individuals but that were lost in foreclosure have been bought by large investors (like Neill Sullivan) and are now being rented out.
Most rentals in Oakland are in buildings with a fairly small number of units (we have very few towers) and many rentals are houses.
In the first quarter of 2014, the median rent in Oakland was $1,695 [source].
News & links
- 2014-07-07: "Tough finding apartment with high Oakland rents" Bay Area News Group